Regulatory Alerts2026-03-31 | DMMD Circular Letter No. 03Rate of Remuneration on Special Cash Reserve Account Maintained with SBP Against Deposits Under FE-Circular 25 of 1998
The State Bank of Pakistan issued DMMD Circular Letter No. 03 of 2026 to set the April 2026 remuneration rate at 2.66% for US-dollar Special Cash Reserve Accounts. Authorized Dealers in Foreign Exchange must apply this updated rate to deposits raised under FE-Circular 25 of 1998, superseding prior circulars from 2001 and 2023. The directive standardizes returns on these central bank accounts while maintaining existing foreign exchange deposit frameworks.
Circulars/Notifications - Domestic Market & Monetary Management Department
DMMD Circular Letter No. 03 of 2026
March 31, 2026
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 April 2026 on Special Cash Reserve Account (US$) maintained with the State Bank of Pakistan will be 2.66%.
Yours truly,
Sd/-
(Rizwana Rifat) Additional Director
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