Foreign buying via SCRA exceeds selling for the first time in seven months

January 16, 2019 (MLN): State Bank of Pakistan’s report on Specially Convertible Rupee Accounts (SCRA) states that the overseas investors cumulatively bought securities worth Rs. 3.47 billion (up from Rs. 1.55 billion bought previous week) during the week ended January 11, 2019, whereas total sale of securities stands at Rs. 3.38 billion (up from Rs. 1.67 billion).

Surprisingly, the net buying of securities for the week stood at Rs. 89 million. The last time total purchases of securities exceeded total sales was on 22nd June 2018.

Remittances flowing into SCRA jumped to Rs. 1,147 million from a sum of Rs. 536 million. However, the increase in inflow was countered by an almost equal increase in outflow of 1,270 million.

The Closing Position of SCRA stands at Rs.28.05 billion, down from Rs.28.13 billion recorded for prior week

Copyright Mettis Link News

Posted on: 2019-01-16T16:09:00+05:00

25413