Roshan Digital Account received highest-ever single day inflow

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KARACHI: The Roshan Digital Account (RDA) on Tuesday received the highest-ever single day inflow of $57 million. In a tweet, the State Bank of Pakistan (SBP) said, “Today marks yet another historic day in #RoshanDigitalAccount, with $57mn in deposit inflows, highest ever daily figure. With this significant increase, total deposits in RDA have crossed $4.5bn. We are humbled by the continuous trust and commitment of our #OverseasPakistanis.”

The RDA was launched in September 2020 to attract foreign exchange from overseas Pakistanis and provide them with higher returns than are available in the world markets.

The contribution of overseas Pakistanis to the economy is much bigger than the entire exports of the country while they are protecting the country from default by remitting record remittances of over $30bn.

The US dollar again appreciated against the rupee to reach Rs211.50 in the interbank market on Tuesday.

The State Bank of Pakistan reported the closing price at Rs211.48 while the exchange companies quoted it at Rs211.80.

The dollar maintained its bull run against the local currency for the eighth session in a row. It, however, has gained over Rs30 since the PML-N coalition government took over on April 11. In the open market, the greenback was selling at Rs215.50 compared to Rs213.50 on Monday.

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