Outflow of hot money reaches $1.89 billion

March 26, 2020 (MLN): Another outflow of $75.89 million hot money by foreign investors from Pakistan’s sovereign debt securities (T-bills and PIBs) has been witnessed in yesterday’s session i.e. on March 25, 2020.

This has led the local market to suffer the loss of $80.20 million, as $6.53 million has been retracted from domestic equities, while the inflow been recorded at $2.15 million on the said day.

In the previous session, foreigners withdrew $94.7 million from T-bills and $7.99 million from equities.

According to the daily SCRA data published by SBP, this month so far, international investors detached $1.57 billion (net) from T-bills, whereas, $75.54 and $45.39 million (net) have been withdrawn from equities and PIBs respectively, bringing the total net outflows to arrive at $1.67 billion.

Cumulatively, from July to date, Pakistan witnessed foreigners have poured $3.43 billion in T-bills, out of which $1.89 billion has been withdrawn, indicating $1.54 billion still parked in T-bills.

With regards to PIBs, the total foreign inflow from July 2019 to date has been recorded at $60.5 million, out of which $45.42 million has been extracted so far.

Copyright Mettis Link News

Posted on: 2020-03-26T15:55:00+05:00

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