Overseas investors go ballistic over purchase of securities via SCRA

MG News | August 09, 2019 at 04:33 PM GMT+05:00

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August 09, 2019 (MLN): The overseas investors recorded the highest purchase of local securities in three years for the week ended August 2, 2019, as the net purchase via Special Convertible Rupee Account (SCRA) clocked in at Rs.3.91 billion, i.e. around Rs. 2.22 billion higher than last week's numbers.

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.4.7 billion, which is around 46.1 percent lower than the figures recorded last week. Similarly, the total purchase of securities stood at Rs.8.6 billion, which is 17.5 percent lower than the prior week.

Over the week, the overall purchase of securities declined by Rs.1.84 billion while the net sale of securities tumbled by Rs.4.06 billion.

Apart from this, the inflow of remittance into these accounts stood at Rs.4.94 billion, while its outflow has been reported at Rs.1.27 billion.

The closing balance of SCRA was recorded at Rs.27.45 billion, which marks a decline of Rs.108.74 million over the week.

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