RDA Experienced Its Greatest Ever Single-Day Inflow
With a $57 million inflow on Tuesday, the Roshan Digital Account (RDA) experienced its greatest ever single-day inflow.
“Today marks yet another historic day in #RoshanDigitalAccount, with $57mn in deposit inflows, highest ever daily amount,” the State Bank of Pakistan (SBP) wrote in a tweet. With this huge rise, the total amount of deposits in RDA has surpassed $4.5 billion. “The unwavering faith and dedication of our #OverseasPakistanis humbles us.”
RDA Was Introduced In September 2020
The RDA was introduced in September 2020 to draw in foreign exchange from Pakistanis living abroad and offer them larger returns than those found on global markets.
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The economic contribution of Pakistanis living abroad exceeds the total exports of the nation, and they are preventing default by sending in record amounts of money—more than $30 billion—every year.
The Peak Dollar Value is Rs211.48
In the interbank market on Tuesday, the US dollar once more grew in value relative to the Indian rupee, reaching Rs211.50.
The closing price was Rs211.48 according to the State Bank of Pakistan, while it was quoted at Rs211.80 by the exchange companies.
For the seventh session in a row, the dollar kept up its upward trend versus the local currency. But since the PML-N coalition government entered office on April 11, it has increased by more than Rs30.
The price of the dollar in the open market was Rs215.50 as opposed to Rs213.50 on Monday.