KARACHI: Due to improved returns and increase in the policy rate, fresh deposits of Rs690 billion have been collected by the banks from January till July, according to the latest data of the State Bank of Pakistan.
The deposits of rupee have increased to Rs13.747 trillion.
By increasing the interest rates to 13.25% for more than a year, rupee deposits have been attractive, as the bankers claimed the long-term deposits are getting a 10-11% return though it.
On the other hand, short-term deposits yield about 8% or more on rupee deposits.
The dollar deposits in local banks yield around 1.5-2% per annum. According to the data released by the SBP, the dollar holdings of commercial banks have increased by $566 million to $7.294 billion from January-July 2019.
The report further revealed that the exchange rate has achieved stability for more than a month, which has reduced the demand for the dollar among investors.
The bankers have expressed satisfaction with the increase in deposits, and have been comfortable with investment in the government papers that offer over 14%.
For news and blog visit Graana.com.
The town of Jhawarian is located in Pakistan's Punjab region, surrounded by the agricultural lands…
Alipur Chattha town is a scenic place that lies in the Gujranwala District in the…
With two major campuses, Alhamd Islamic University (AIU) has carved a niche for itself. Being…
The ancient town of Johi is set in Pakistan's Dadu District in the Sindh Province.…
Mehar is a small town located in Sindh, Pakistan. It is positioned at coordinates 27.1795221,…
Nasirabad is a district located in Balochistan, Pakistan. It is known for its agricultural activities,…
Welcome to Graana Blog - Pakistan’s Smartest Property Portal!
For more than a decade our intention has been to revolutionise the real estate industry in Pakistan. The same belief drove the vision of our real estate team, Graana where quality beats quantity.
We have introduced an extremely transparent and purposeful portal where we will help you buy, rent or sell your property. A place where you can sit back relax and let us market your projects and listings. We believe we have set new standards for the future of real estate in Pakistan by providing the smartest property portal.
