SBP reduces rate of Special Cash Reserve Account to 3.53% for December

By MG News | November 29, 2024 at 08:06 PM GMT+05:00

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November 29, 2024 (MLN): The State Bank of Pakistan (SBP) has lowered the rate of remuneration for December 2024 on the Special Cash Reserve Account (US$) to 3.53%, as per a notice issued by the central bank.

To recall, in the previous month, SBP reduced the rate to 3.66%.

It is important to note that this rate is for deposits raised under FE-Circular 25 of 1998.

The special cash reserve account is remunerated by the State Bank on a daily product basis on rates notified at the end of each month.

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