RDA inflows increase 7% in September.

KARACHI -- The inflow of foreign currency through the Roshan Digital Account (RDA) rose by around 7% to $139 million in September, taking the total to $6.75 billion in 37 months, according to the central bank data released on Monday.

Financial experts said the improvement in RDA inflows was nominal at $9 million as compared to $130 million in August, indicating that the full impact of the crackdown on Hawala-Hundi operators and the hike in return on Naya Pakistan Certificates (NPCs) was yet to come.

Topline Research reported that average RDA inflows stood at $183 million a month since the launch of the facility for overseas Pakistanis in September 2020.

AHL Research added that out of the gross inflows of $6.75 billion, the expatriates had already withdrawn $1.49 billion. Besides, they have utilised another $4.12 billion in the country, reducing the net amount to $1.14 billion.

Giving a breakdown, it said, the overseas Pakistanis held net investment of $266 million in the conventional NPCs, another $402 million in te Shariah-compliant NPCs, $20 million in the Pakistan Stock Exchange (PSX) and the remaining $429 million was deposited in their bank accounts.

Read Forex reserves rise $31m to $7.65b

Experts pointed out that the crackdown on currency smugglers and Hawala-Hundi operators had improved workers' remittances to $2.20 billion in September and voiced hope that RDA inflows would...