Another $165.9 million withdrawn from local markets via SCRA

March 13, 2020 (MLN): There was a net outflow of $165.9 million from the local markets via Special Convertible Rupee Account on March 12, 2020, where majority of the selling by foreign investors was witnessed in T-bills.

According to the data released by the State Bank of Pakistan, the outflow of foreign currency from T-bills amounted to $165.7 million, while the outflow from equity markets totaled $$3.4 million, causing the total outflow of foreign currency to reach $169.2 million.

On the other hand, the total inflow of foreign currency into local markets amounted to $3.29 million.

Is it pertinent to note that the inflow in T-Bills from July 2019 to date has been recorded at $3.43 billion, while the total outflow has been recorded at $1.104 billion.

The inflow of foreign currency in March 2020 alone stood at $31.4 million, out of which, $12.9 million was attributed to Equity and $18.4 was attributed to T-bills.

On the other hand, the total outflow during the month amounted to $868.6 million, wherein the equity accounted for $44.5 million and T-bills accounted for $790.7 million. 

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