Foreign investors buy Rs8.32bn worth of securities via SCRA

March 28, 2024 (MLN): The net purchase of securities for the week ended March 22, 2024 clocked in at Rs8.32bn, as compared to a net purchase worth Rs4.16bn recorded last week, according to a weekly report on Specially Convertible Rupee Accounts (SCRA) released by the State Bank of Pakistan.

To note, foreign investors have remained net buyers for the fourth consecutive week.

During the week, the gross sale of securities was recorded at Rs6.28bn, which is around 58.36% higher than the figures recorded last week.

Similarly, the total purchase of securities stood at Rs14.6bn, which is 79.64% higher than the prior week, resulting in a net purchase of Rs8.32bn for the week.

Over the week, the overall purchase of securities increased by Rs6.47bn while the net sale of securities increased by Rs2.31bn.

Apart from this, the inflow of remittance into these accounts surged to Rs22.57bn, while its outflow has been reported at Rs4.13bn.

Accordingly, the net flow of remittances clocked in at Rs18.44bn, the highest since February 2020.

The closing balance of SCRA was recorded at Rs34.73bn, which marks a significant rise of Rs10.67bn over the week.

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