SBP maintains remuneration rate on Special Cash Reserve Account for September

Mettis Global reported that the State Bank of Pakistan has slightly raised the remuneration rate on the Special Cash Reserve Account (US$) to 2.71% for September 2026. The previous readings were 2.66% for August 2026 and 2.65% for July 2026. The figure covers funds gathered under the 1998 FE-Circular25, according to the newest SBP notification.

Banks and NBFIs must hold reserves equal to 25% of their FE-25 deposits with the SBP. A 5% share sits in the Cash Reserve Account while 20% goes to the Special Cash Reserve Account, and only the special portion earns monthly remuneration. The rate is worked out from the one-month CME Term SOFR posted on the final business day of the preceding month, after deducting a 1% service charge. According to the report, the adjustment is part of the SBP's ongoing approach to bringing returns on foreign-currency reserves in line with global yardsticks.