SCRA position shows a decline of Rs 127.7 mln over the week

January 02, 2020 (MLN): Improving macroeconomic situation coupled with the stability in PKR against dollar encouraged foreigners to invest more in Pakistan as foreign investors remained net buyers for the 11th consecutive week.

The total purchase of securities during the week via Special Convertible Rupee Account (SCRA) surpassed total sale by around Rs.1.3 billion as on December 27, 2019.

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.8.8 billion, which is around 84.7 percent lower than the figures recorded last week. Similarly, the total purchase of securities stood at Rs.10.1 billion, which is 88.7 percent lower than the prior week.

Consequently, the net purchase of securities for the week ended December 27, 2019 clocked in at Rs.1.3 billion, i.e. around Rs.30.48 billion lower than last week's numbers.

Over the week, the overall purchase of securities declined by Rs.79.15 billion while the net sale of securities tumbled by Rs.48.67 billion.

Apart from this, the inflow of remittance into these accounts stood at Rs.4.05 billion, while its outflow has been reported at Rs.3.54 billion.

The closing balance of SCRA was recorded at Rs.29.82 billion, which marks a decline of Rs.127.77 million over the week.

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