Foreigners pull back further $83 million via SCRA on Monday

March 17, 2020 (MLN): Further net outflow of $83 million from the local markets via Special Convertible Rupee Account was witnessed on March 16, 2020, wherein majority of the selling by foreign investors was recorded in T-bills.

According to the data released by the State Bank of Pakistan, the outflow of foreign currency from T-bills amounted to $80.5 million, while the outflow from equity markets totaled $4.3 million, causing the total outflow of foreign currency to reach $84.9 million.

On the other hand, the total inflow of foreign currency into local markets amounted to $1.87million, that too in equities alone.

It is worthwhile to note that the inflow in T-Bills from July 2019 to date has been recorded at $3.43 billion, while the total outflow has been recorded at $1.4 billion.

The inflow of foreign currency in March 2020 alone stands at $38 million, out of which, $19.6 million has been attributed to Equity and $18.4 million to T-bills.

On the other hand, the total outflow during the month amounts to $1.18 billion, wherein the equity accounts for $54.7million and T-bills accounts for $1.09 billion.

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