Foreign Investment via SCRA soars to highest level in a year

December 07, 2023 (MLN): Foreign investors remained net buyers for the third consecutive week as the net purchase of securities for the week ended December 01, 2023 surged to Rs4.33 billion, as compared to a net purchase worth Rs1.88bn recorded last week.

This was the highest net purchase via SCRA since January 2022, as investors' confidence remains uplifted amid hopes of improved economic conditions following the expected inflows from IMF and friendly countries, relatively stable currency amid government-backed administrative efforts, and a possible slash in the interest rates.

According to a weekly report on Specially Convertible Rupee Accounts (SCRA) released by the State Bank of Pakistan, during the week, the gross sale of securities was recorded at Rs8.73bn, which is around 50.42% higher than the figures recorded last week.

Similarly, the total purchase of securities stood at Rs13.06bn, which is 70.06% higher than the prior week, resulting in a net purchase of Rs4.33bn for the week.

Over the week, the overall purchase of securities increased by Rs5.38bn while the net sale of securities increased by Rs2.93bn.

Apart from this, the inflow of remittance into these accounts stood at Rs6.3bn, while its outflow has been reported at Rs2.68bn.

The closing balance of SCRA was recorded at Rs25.97bn, which marks a rise of Rs167.7m over the week.

Copyright Mettis Link News