The State Bank of Pakistan (SBP) has fixed 4.04 percent rate of remuneration for the month of May 2006 on Special Cash Reserve Account (US$) maintained with the central bank.
The decision to this effect has been conveyed to all the authorised dealers in foreign exchange through EDMD Circular No 7 in reference with BSD circular No 18 of SBP here on Saturday. This is applicable to the cash reserve requirement for deposits raised under FE-Circular 25 of 1998, the central bank announced.