Pace of net foreign selling eases to Rs 37.98 bln

April 10, 2020 (MLN): Net foreign outflows slowed down by Rs 5.18 billion to Rs 37.98 billion from local securities during the week ended April 03, 2020, marking the sixth straight week of foreign net selling.

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.63.4 billion, which is around 8.9 percent lower than the figures recorded last week. Similarly, the total purchase of securities stood at Rs.25.4 billion, which is 3.9 percent lower than the prior week.

Consequently, the net sale of securities for the week ended April 03, 2020 clocked in at Rs.37.98 billion, i.e. around Rs.5.19 billion higher than last week's numbers.

Over the week, the overall purchase of securities declined by Rs.1.03 billion while the net sale of securities tumbled by Rs.6.22 billion.

Apart from this, the inflow of remittance into these accounts stood at Rs.1.13 billion, while its outflow has been reported at Rs.39.28 billion.

The closing balance of SCRA was recorded at Rs.34.28 billion, which marks a decline of Rs.33.4 million over the week.

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