RDA inflows at 19-month high

The foreign currency investment made by overseas Pakistanis through the Roshan Digital Account (RDA) reached a 19-month high at $182 million in March 2024, which indicated an increase in confidence of expatriate Pakistanis in the national economy. According to the State Bank of Pakistan’s (SBP) data, the inflows increased by 29% to $182 million as compared to the investment of $141 million in February 2024. With the fresh injection, total gross inflows have surged to a new high of $7.66 billion over a period of 43 months as the investment scheme for the expatriates was launched in September 2020. Net inflows, however, settled at $1.28 billion in March after accountholders mostly utilised the investment in Pakistan or withdrew some of the funds in line with their requirements. RDA inflows have helped stabilise Pakistan’s foreign exchange reserves around $8 billion. Talking to The Express Tribune, Ismail Iqbal Securities Deputy Head of Research Saad Hanif said “this is an encouraging monthly inflow ($182 million), the highest since August 2022.”