Investment in local markets via SCRA sees a drop

MG News | February 21, 2020 at 12:45 PM GMT+05:00

0:00

February 21, 2020 (MLN): The outgoing week saw an influx of funds from overseas investors, as the purchase of securities via Special Convertible Rupee Account (SCRA) exceeded total sale of securities by Rs. 21.7 billion.

However, the figure was still lower by Rs.232.48 million as compared to the net purchases reported last week.

According to a weekly report released by the State Bank of Pakistan, the gross sale of securities during the week was recorded at Rs.57.8 billion, which is around 47.4 percent higher than the figures recorded last week. Similarly, the total purchase of securities stood at Rs.79.6 billion, which is 30 percent higher than the prior week.

Over the week, the overall purchase of securities rose by Rs.18.37 billion while the net sale of securities increased by Rs.18.6 billion.

Apart from this, the inflow of remittance into these accounts stood at Rs.43.32 billion, while its outflow has been reported at Rs.15.35 billion.

The closing balance of SCRA was recorded at Rs.35.84 billion, which marks a rise of Rs.6.18 billion over the week.

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