T-bills attract $35.6m foreign investment in 10 days

MG News | May 30, 2024 at 12:23 PM GMT+05:00

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May 30, 2024 (MLN): Pakistan has attracted $35.6 million net flow from foreign investors into T-Bills through Special Convertible Rupee Accounts (SCRA) in the current month till May 10, the latest data by the State Bank of Pakistan (SBP) showed.

Last month, Pakistan attracted $25.6m net flows into T-Bills, as the country continues to witness a surge in confidence amid improved economic conditions and a stable exchange rate.

According to the central bank’s data, in the current fiscal year to date, the debt-ridden nation has seen a significant net flow of $192.6m in T-Bills through SCRA.

To note, these bonds offer attractive returns of 21% for three-month and six-month papers, and 20.1% for 12-month papers, which are paid in Pakistan rupees (PKR).

Read: Govt raises Rs500.5bn through T-bills

SCRA allows foreign persons, institutions, and non-resident Pakistanis to invest into various instruments such as equities, government bonds, and TFCs.

Under this scheme, the funds are converted into Pakistani rupees and credited to the depositor's "Special Convertible Rupee" account.

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