T-bills attract $370.7 million so far this month

February 16, 2020 (MLN): The attractive returns offered by government-backed securities has enticed foreign investors to invest more as the total inflows in government short-term Securities (T-bills) has exceeded USD 3.134 billion (net) since the beginning of the current fiscal year till February 13, 2020.

This translates into Rs.483.223 Billion which is 8.30 percent of the total outstanding MTB’s in the market, according to data compiled by Mettis Global. The total Outstanding MTB (market treasury bills) amount is around 5.807 trillion

Furthermore, the inflows of USD3.134 billion is accounted for 25.21 percent of SBP’s FX Reserves.

The data on daily SCRA position issued by SBP suggests that these inflows was almost exclusively from two countries United Kingdom (UK) and United States (USA) as inflows of $2.2 billion in T-bills came from UK and $871.9 million from the USA.

While the cumulative amount from UAE amounted to $106.5 million.

 In the first 13 days of February, the T-bills attracted $370.7 million, in which $219.6 million came from UK and $99 million from UAE.

In a single day session on February 13, 2020, Pakistan witnessed net inflows of USD 215.4 million in T-bills.

meanwhile, Foreign Investments in Pakistan’s Equities have seen a net inflow of $12 million so far this month. Cumulatively, foreign outflows of $20.45 million have been recorded in domestic equities so far from July 2019.

Similarly, inflows in PIBs from July 1, 2019 to February 13, 2020 amounted to $35.8 million (net).

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