Overseas investors pull out Rs 6.073 billion in a week

July 30, 2020 (MLN): A selloff in the debt market continued as foreign Investors pulled out Rs 6.073 billion during the week ended July 24, 2020 amid uncertainty and global trade worries. However, the pace of foreign selling slowed down by Rs.4.45 billion when compared to last week’s number.

According to a weekly report on Specially Convertible Rupee Accounts (SCRA) released by the State Bank of Pakistan, the gross sale of securities during the week was recorded at Rs.12.4 billion, which is around 39.2 percent lower than the figures recorded last week. Similarly, the total purchase of securities stood at Rs.6.3 billion, which is 36 percent lower than the prior week.

Over the week, the overall purchase of securities declined by Rs.3.54 billion while the net sale of securities tumbled by Rs.7.99 billion.

Apart from this, the inflow of remittance into these accounts stood at Rs.1.45 billion, while its outflow has been reported at Rs.9.13 billion.

The closing balance of SCRA was recorded at Rs.30.31 billion, which marks a decline of Rs.1.19 billion over the week.

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Posted on: 2020-07-30T14:03:00+05:00