Foreign net selling via SCRA returns to the rising trend

MG News | January 03, 2019 at 04:46 PM GMT+05:00

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January 3, 2019 (MLN): Overseas investors during the last week of the year that ended on December 28, 2018, not only indulged in excessive sale of securities yet again, but also pushed up the net sale via Specially Convertible Rupee Account (SCRA) by Rs.864 million from the prior week.

As per data maintained by the State Bank of Pakistan (SBP), the net sale of securities during the week increased to Rs.982 million whereas in the week before this, the net figure had crashed from Rs.1.5 billion to Rs.118 million.

Taking a flick through the pertinent document released by SBP, it can be seen that the total sale of securities has driven up by Rs.754 million to Rs.5.8 billion, while the total purchase of securities has dropped by Rs.110 million to Rs.4.8 billion.

Moreover the inflow of remittance in to these accounts dropped by over Rs.750 million.

The closing balance of SCRA for the week stands at Rs.27.97 billion, down from Rs.28.5 billion recorded a week before.

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