June 16, 2020 (MLN): The departed week saw a colossal rise in the trade of securities via Specially Convertible Rupee Accounts (SCRA) by international investors, with major preference being given to sale of securities as usual.
According to a weekly report on SCRA released by the State Bank of Pakistan, the gross sale of securities during the week was recorded at Rs. 16 billion, which is around 4.85x higher than the figures recorded last week. Similarly, the total purchase of securities stood at Rs. 13.6 billion, which is 7.82x higher than the prior week.
Consequently, the net sale of securities for the week ended June 5, 2020 clocked in at Rs. 2.35 billion, i.e. around Rs. 1.16 billion lower than last week's numbers.
Over the week, the overall purchase of securities rose by Rs. 12.08 billion while the net sale of securities increased by Rs. 13.24 billion.
Apart from this, the inflow of remittance into these accounts stood at Rs. 3.91 billion, while its outflow has been reported at Rs. 6.56 billion.
The closing balance of SCRA was recorded at Rs. 30.13 billion, which marks a decline of Rs. 86.6 million over the week.
