Mettis Global News
Mettis Global News
Mettis Global News
Mettis Global News

CPI Preview: Inflation to fall below 14% YoY in May

Foreign investors pull out $172.9 million fom local markets via SCRA in a single session

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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.

By virtue of these unwarranted foreign transactions, the PKR depreciated by 87 paisa against US Dollar (USD) in today's interbank session as the currency closed the day's trade at PKR 157.45 per USD, against yesterday's closing of PKR 156.58 per USD.

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.  

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Posted on: 2020-03-11T18:07:00+05:00