Pakistan saw net outflow of foreign investment in last week of 2023

January 09, 2024 (MLN): Foreign investors turned to net sellers after six weeks, recording a net sale of securities worth Rs439.46 million for the week ending December 29, 2023, as compared to a net purchase worth Rs3.19 billion recorded the previous week.

According to a weekly report on Specially Convertible Rupee Accounts (SCRA) released by the State Bank of Pakistan, during the week, the gross sale of securities was recorded at Rs4.76bn, which is around 53.98% lower than the figures recorded last week.

Similarly, the total purchase of securities stood at Rs4.32bn, which is 68.08% lower than the prior week, resulting in a net sale of Rs439.46m for the week.

Over the week, the overall purchase of securities decreased by Rs9.21bn while the net sale of securities decreased by Rs5.58bn.

Apart from this, the inflow of remittance into these accounts stood at Rs1.25bn, while its outflow has been reported at Rs2.91bn.

The closing balance of SCRA was recorded at Rs25.26bn, which marks a decline of Rs1.17bn over the week.

Copyright Mettis Link News