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Mettis Global News
Mettis Global News

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Hot Money: And the hits just keep on coming

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April 10, 2020 (MLN): International investors continued with their current tradition of escaping from local debt market as a withdrawal of another $81.5 million in T-bills has been recorded on Wednesday i.e. April 8, 2020.

Thus, the net outflow for the day has been logged at $91.42 billion, as foreign investors withdrew $12.46 from local equities, while inflows stood at $2.5 million only.

According to the SCRA data released by SBP, during fiscal year to date, from $3.43 billion of injection in T-bills, foreigners have pulled around $2.35 billion so far, indicating that only $1 billion investment is left.

With regards to foreign investment in long term instruments particularly PIBs, foreigners detached $45.4 million so far, against the inflows of $60.5 million.

So far this month, country did not witness any influx of hot money in government denominated securities as foreign investors are not willing to invest their money amid global COVID-19 pandemic, signifying that the flight of foreign currency from local debt market will continue.

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Posted on: 2020-04-10T12:06:00+05:00