Foreign Investors pour $75.5m into T-bills in May

MG News | June 06, 2024 at 11:31 AM GMT+05:00

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June 06, 2024 (MLN): Pakistan continued to attract significant hot capital into T-Bills, recording a notable $75.5 million net flow from foreign investors in 17 days of May, as per the latest data by the State Bank of Pakistan (SBP).

Last month, Pakistan attracted $25.6m net flows into T-Bills, as the country continues to witness a surge in confidence amid improved economic conditions and a 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 $232.5m in T-Bills through Special Convertible Rupee Accounts (SCRA).

To note, these bonds offer attractive returns of 21% for three-month and six-month papers, and 20.1% for 12-month papers, which are paid in Pakistan rupees (PKR).

Read: Govt raises Rs500.5bn through T-bills

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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