Foreign exchange inflows through the Roshan Digital Accounts (RDAs) were recorded at a total of $5.811 billion by the end of February 2023, according to the State Bank of Pakistan (SBP).
According to official data released by the central bank, the deposits under the RDAs registered inflows of $125 million in February, up $15 million from the inflows of $110 million recorded in January. The jump signifies an increase of 15 percent in inflows on a MoM basis.
The monthly inflows through the RDAs in February increased on a month-on-month (MoM) basis for the first time in eight months. According to the official numbers, 536,676 RDAs have been opened since they were launched, representing a 2.2 percent increase on a monthly basis.
The total investments made through the RDA inflows totaled $3.704 billion from September 2020 to February 2023. So far, conventional Naya Pakistan Certificates (NPCs) have received $1,833 million, whereas Islamic NPCs collected $1,822 million. Meanwhile, the RDAs deposited $49 million in the Pakistan Stock Exchange.
It is pertinent to mention here that back in January, the government notified an increase in rates of return on Naya Pakistan and Islamic Naya Pakistan Certificates on all maturities of US dollar-denominated Certificates and GBP-denominated Certificates.
The rates of return on US dollar-denominated Certificates and GBP-denominated Certificates were increased by up to 150bps and 125bps respectively. The rates of return on 3-Month, 6-Month, and 12-Month Euro-denominated NPCs were revised downward while there was an increase in the rates of return on 3-year and 5-year NPCs.