Flight of hot money continues, further $52.3 mln has been detached from local debt market

MG News | April 15, 2020 at 05:14 PM GMT+05:00

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April 15, 2020 (MLN): Foreign investors withdrew further $52.3 million yesterday from government securities particularly T-bills, bringing the total outflow for the month to clock in at $464.7 million.

According to the SCRA data released by SBP, from fiscal year to date, the country witnessed an outflow of $2.53 billion in T-bills, against inflows of $3.43 billion, indicating that only $899.2 million investment remained in T-bills.

Similarly, speaking of PIBs, foreigners retreated $45.4 million from the inflow of $60.5 million, taking the total net inflow to clock in at $15 million during Jul FY20 to date.

Country-wise, UK investors made the largest withdrawal from July FY20 to date, as they detached $2.1 billion so far from T-bills followed by US investors with an outflow of $395.98 million.

On the other hand, Pakistan’s equity market has witnessed a net outflow of $237 million from July to date.

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