RDA inflows dip to $161m in July

Overseas Pakistanis deposited and invested $161 million in July 2024 through the Roshan Digital Account (RDA), a figure below the past six-month average, contributing to a Rs0.18/$ decline in the domestic currency in the inter-bank market on Wednesday. According to State Bank of Pakistan (SBP) data, these inflows have pushed total RDA receipts to $8.42 billion since the accounts were introduced in September 2020. Net inflows currently stand at $1.46 billion, excluding funds expatriates sent to and later withdrew from Pakistan. Topline Research noted that July's inflows of $161 million were lower than the six-month average of $168 million and the overall average of $179 million since RDA's launch. Net inflows were $147 million in July, compared to a six-month average of $168 million and a 47-month average of $144 million, said the research house.