Foreign investors display heightened preference towards sale of securities via SCRA

MG News | April 22, 2019 at 12:03 PM GMT+05:00

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April 22, 2019 (MLN): The outgoing week witnessed a heightened preference of Foreign investors towards sale of securities in Pakistan’s, as the net selling of securities amplified to Rs. 614 million as compared to last week’s figure of Rs. 18 million.

According to weekly Specially Convertible Rupee Account (SCRA) position report released by the State Bank of Pakistan, the total sale of securities during the week ended April 12, 2019, was recorded at Rs. 5.450 billion whereas total purchase of securities was Rs. 4.836 billion.

On the other hand, the remittances flowing into these accounts were recorded at Rs. 1.79 billion while the outgoing remittances amounted to Rs. 2.4 billion.

As a result, the closing balance of SCRA for the week stood at Rs. 27.9 billion, which is approximately 0.65% higher than the previous week’s closing of Rs. 27.72 billion.

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