All Authorised Dealers
In Foreign Exchange

Dear Sirs,

 

RATE OF REMUNERATION ON CASH RESERVE REQUIREMENT FOR DEPOSITS RAISED UNDER FE-CIRCULAR 25 OF 1998.

Please refer to Para 03 of BSD Circular No. 18 dated 31st March 2001 on the captioned subject.
It is notified that the rate of remuneration for the month of February 2005 on Special Cash Reserve Account (US$) maintained with the State Bank of Pakistan would be 1.59%.

Copy forwarded for information and necessary action to:

1. The Executive Director (FRM), State Bank of Pakistan, Karachi.
2. The Director, Banking Supervision Department, SBP, Karachi.
3. The Director, Accounts Department, SBP, Karachi.
4. The Director, Exchange Policy Department, SBP, Karachi.
5. The Chief Spokesman, Corporate and Media Affairs Department, SBP, Karachi.
6. The Chief Manager, SBP-BSC, Karachi.
7. The Chief Manager, SBP-BSC, Lahore.