Foreign selling via SCRA eases out

April 5, 2019 (MLN): The aggressive selling by the overseas investors witnessed in the last week eased out, as during the week ended March, 29 2019, the weekly data on Specially Convertible Rupee Accounts (SCRA) revealed that the net sale of securities logged in at Rs. 3 million, i.e. around Rs. 363 lower than the previous week.

The total sale of securities declined by around Rs. 3.4 billion over the week to stand at Rs. 4.2 billion (down from Rs. 7.6 billion), whereas total purchase of securities decreased by over Rs. 3.1 billion to Rs. 4.2 billion (down from Rs. 7.3 billion).

Moreover, the flow of remittances into these accounts amounted to Rs. 1.5 billion whereas the outflow of remittances stood at Rs. 2.2 billion.

Subsequently, the closing balance of SCRA during the week is standing at Rs. 27.79 billion which is around Rs. 439 million lower than Rs. 22.23 billion recorded in the prior week.

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