KARACHI: The strong demand for US dollars kept the rupee under pressure which plunged to an all-time low to Rs184.09 by losing another 61 paise in the interbank market on Friday.

The local currency has lost over 16 per cent since August 2021 against the greenback. Pressure is mounting as the foreign exchange reserves of the State Bank declined by over $8bn during the first eight months.

Roshan accounts

However, Roshan Digital Accounts (RDAs) attracted $290 million fresh deposits as overseas Pakistanis have started taking more interest in this easy opening of bank accounts.

In a tweet, the State Bank of Pakistan on Friday said 23,312 new accounts were opened for RDA in March alone. So far the total RDA deposits have reached $3.92bn.

Published in Dawn, April 2nd, 2022