March 11, 2020 (MLN): There was an outflow of a whopping $135.7 million from T-bills on March 10, 2020, in which foreign selling from the UK pegged at $131.7 million.
According to the data released by the State Bank of Pakistan, the outflow of foreign currency from PIBs amounted to $32.9 million on the same day, causing the net outflow of foreign currency to reach $172.9 million.
Is it imperative to note that the local currency has depreciated by Rs 4.18 or 2.71% against the dollar since March 6, 2020.
The total foreign inflow in Treasury bills (T-Bills) from July 2019 to date, has been recorded at $3.43 billion, while the total outflow has been recorded at $688.1 million.
From the total inflows in only T-bills, $2.33 billion came from the United Kingdom (UK), $892 million from the United States (USA) whereas UAE invested $109 million.
The data released by the State Bank of Pakistan revealed that the inflow of foreign currency in March 2020 alone stood at $26.6 million, out of which, $8.1 million was attributed to Equity and $18.4 was attributed to T-bills.
On the other hand, the total outflow during the month amounted to $444.9 million, wherein the equity accounted for $37.4 million and T-bills accounted for $374.2 million.
