Foreigners pull out a hefty net amount of Rs 153 billion via SCRA

March 20, 2020 (MLN): This time, again, foreign investors indulged in excessive selling during the week ended March 13, 2020, as they pulled out a hefty net amount of Rs 153 billion from local securities.

According to a weekly report on Specially Convertible Rupee Accounts (SCRA) released by the State Bank of Pakistan, the gross sale of securities during the week was recorded at Rs.249.8 billion, which is around 403.3 percent higher than the figures recorded last week. Similarly, the total purchase of securities stood at Rs.95.9 billion, which is 326.1 percent higher than the prior week.

Consequently, the net sale of securities for the week ended March 13, 2020 clocked in at Rs.153.98 billion, i.e. around Rs.126.84 billion lower than last week's numbers.

Over the week, the overall purchase of securities rose by Rs.73.36 billion while the net sale of securities increased by Rs.200.2 billion.

Apart from this, the inflow of remittance into these accounts stood at Rs.1.9 billion, while its outflow has been reported at Rs.152.83 billion.

The closing balance of SCRA was recorded at Rs.31.91 billion, which marks a rise of Rs.2.91 billion over the week.

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Posted on: 2020-03-20T17:30:00+05:00