Net purchase of securities via SCRA drops by 40%

March 1, 2019 (MLN): The net purchase of securities via Specially Convertible Rupee Accounts (SCRA), for the week ended February 22, 2019 has logged in at Rs.1.1 billion as overseas investors bought securities worth Rs.11.9 billion against a sale of securities worth Rs.10.8 billion.

Compared to prior week, the net purchase has fallen by 44% as it was recorded at Rs.1.9 billion.

Weekly data released to provide update on the position of these accounts show that the sale of securities during the week increased from Rs.6.6 billion while purchase of securities was recorded at Rs.8.5 billion prior week.

Moreover, remittances worth Rs.3.8 billion flew into these account during the week, whereas outflow of remittances stands at Rs.3.5 billion.

The closing balance of SCRA for the week is Rs.28.28 billion, down from Rs.28.98 billion recorded last week.

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