Foreign investors pour $11m in T-Bills in May

MG News | May 24, 2024 at 03:21 PM GMT+05:00

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May 24, 2024 (MLN): Pakistan has attracted $11.16 million net flow from foreign investors into T-Bills through Special Convertible Rupee Accounts (SCRA) in the current month to date, the latest data by the State Bank of Pakistan (SBP) showed.

Last month, the country attracted $25.64m net flows into T-Bills, as the country continues to witness a surge in confidence amid stable exchange rate.

According to the central bank’s data, in the current fiscal year to date, the debt-ridden nation has seen a significant net flow of $168.14m in T-Bills through SCRA.

To note, these bonds offer attractive returns of 21.60% for three-month T-bills, 21.29% for six months, and 20.41% for 12-month papers, which are paid in Pakistan rupees (PKR).

SCRA allows foreign persons, institutions, and non-resident Pakistanis to invest into various instruments such as equities, government bonds, and TFCs.

Under this scheme, the funds are converted into Pakistani rupees and credited to the depositor's "Special Convertible Rupee" account.

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