Overseas Investors sell local securities worth Rs 27.14 billion via SCRA

March 12, 2020 (MLN): In line with the previous week transaction, the outgoing week continued to witness an outflow of funds from foreign investors, as they sold out local securities worth Rs 27.14 billion.

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.49.6 billion, which is around 13.9 percent higher than the figures recorded last week. Meanwhile, the total purchase of securities stood at Rs.22.5 billion, which is 9.2 percent lower than the prior week.

Consequently, the net sale of securities for the week ended March 06, 2020 clocked in at Rs.27.14 billion, i.e. around Rs.8.33 billion lower than last week's numbers.

Over the week, the overall purchase of securities declined by Rs.2.27 billion whereas the net sale of securities increased by Rs.6.06 billion.

Apart from this, the inflow of remittance into these accounts stood at Rs.3.45 billion, while its outflow has been reported at Rs.31.93 billion.

The closing balance of SCRA was recorded at Rs.29 billion, which marks a decline of Rs.1.36 billion over the week.

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