Remittances through the Roshan Digital Account (RDA) crossed $10.748 billion by the end of July 2025, according to fresh data released by the State Bank of Pakistan (SBP). The figure marks an increase from $10.563 billion at the close of June, reflecting continued confidence by overseas Pakistanis in the scheme.
During July, inflows stood at $185 million, slightly higher than the $182 million recorded in June, although lower than the $201 million received in May. The sustained momentum highlights the role of RDA as a reliable channel for remittances and investments despite global economic challenges.
The number of account registrations also grew, with 10,619 new accounts added in July, pushing the total to 842,582 compared to 831,963 in June. This steady rise underscores the appeal of the platform to the Pakistani diaspora. In terms of investments, overseas Pakistanis had placed $479 million in Naya Pakistan Certificates, $936 million in Naya Pakistan Islamic Certificates, and $75 million in Roshan Equity Investments by the end of July.
Alongside remittances, the government of Pakistan raised Rs865.2 billion through multiple debt auctions, including Ijara Sukuk, to meet its financing needs. According to the SBP, Rs526.974 billion was secured from Market Treasury Bills (MTBs) across various tenors, with cut-off yields ranging from 10.85 percent to 11 percent, showing stability in short-term borrowing costs.
In the latest T-bill auction, the central bank successfully raised Rs527 billion, surpassing its Rs450 billion target. Investor participation was strong, with bids worth Rs1,314 billion, reflecting solid demand. Yields remained broadly stable, although the six-month paper witnessed a minor decline of two basis points, indicating slight softening in medium-term borrowing costs.
Additionally, the SBP raised Rs109.250 billion through the auction of 10-year Pakistan Investment Bonds — Floating Rate, which were sold at a cut-off price of Rs95.5244. Parallel to this, the government also conducted an auction of Ijarah Sukuk via the Pakistan Stock Exchange, raising Rs228.99 billion against a combined target of Rs200 billion. The total bids received amounted to Rs626.85 billion, showcasing strong investor appetite.
Within this auction, the 10-year Zero Coupon Sukuk drew the highest interest, generating bids of Rs210.25 billion and raising Rs77.4 billion. All fixed-rate instruments were fully subscribed, with rental rates between 10.44 percent and 12 percent, while all bids for the five-year Variable Rate Rental Sukuk were rejected.
On the currency front, the Pakistani rupee posted its ninth consecutive gain, inching up by one paisa to close at 281.95 against the US dollar in the inter-bank market. The slight improvement reflects relative stability in foreign exchange flows.
Meanwhile, gold prices in Pakistan declined despite a rise in the international market. In the domestic market, gold fell by Rs1,400 to settle at Rs355,200 per tola, while the 10-gram rate decreased by Rs1,201 to Rs304,526. Globally, spot gold climbed 0.9 percent to $3,343.42 per ounce after hitting its lowest level since early August, as the US dollar weakened and investors awaited signals from the Federal Reserve’s policy direction at the Jackson Hole symposium. US gold futures also rose by 0.9 percent to $3,387.10.
The combined trends of rising RDA inflows, strong debt auction participation, a steady rupee, and fluctuating gold prices highlight the delicate balance of Pakistan’s financial landscape as the country navigates both domestic and global economic shifts.
