Regulatory Alerts2025-12-31 | DMMD Circular Letter No. 14Rate of Remuneration on Special Cash Reserve Account with SBP Against Deposits Under FE-Circular 25 of 1998
The State Bank of Pakistan’s Domestic Market & Monetary Management Department has issued Circular Letter No. 14 of 2025 to establish the remuneration rate for January 2026. Authorized dealers must apply a fixed rate of 2.69% to US-dollar Special Cash Reserve Accounts maintained against deposits raised under FE-Circular 25 of 1998. This directive supersedes previous notifications dated March 2001 and August 2023, ensuring consistent compensation for foreign exchange deposits held with the central bank.
Circulars/Notifications - Domestic Market & Monetary Management Department
DMMD Circular Letter No. 14 of 2025
December 31, 2025
The Head/Principal Offices of All Authorized Dealers In Foreign Exchange
Dear Sirs/Madams,
RATE OF REMUNERATION ON SPECIAL CASH RESERVE ACCOUNT
MAINTAINED WITH SBP AGAINST DEPOSITS RAISED UNDER FE-CIRCULAR 25 OF 1998
Please refer to Para 03 of BSD Circular No. 18 dated March 31, 2001 and DMMD Circular letter No. 03 dated August 09, 2023 on the captioned subject.
It is notified that the rate of remuneration for the month of January 2026 on Special Cash Reserve Account (US$) maintained with the State Bank of Pakistan will be 2.69%.
Yours truly,
Sd/-
(Iftikhar Ahmad Tari)
Additional Director
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