SBP reduces rate of Special Cash Reserve Account to 3.85% for Oct

MG News | September 30, 2024 at 09:39 PM GMT+05:00

0:00

September 30, 2024 (MLN): The State Bank of Pakistan (SBP) has lowered the rate of remuneration for October 2024 on Special Cash Reserve Account (US$) at 3.85%, as per a notice issued by the central bank.

To recall, in the previous month, SBP reduced the rate to 4.2%.

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 State Bank on daily product basis on rates notified at the end of each month.

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