T-Bills attract another $20.6m foreign capital in April 2024

MG News | April 25, 2024 at 01:19 PM GMT+05:00

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April 25, 2024 (MLN): Pakistan has attracted $20.6 million net flow from foreign investors into T-Bills through Special Convertible Rupee Accounts (SCRA) in the current month to date, the latest data by the State Bank of Pakistan (SBP) showed.

Last month, the country attracted $89.2m net flows into T-Bills, as the country continues to witness a surge in confidence amid stable exchange rate.

According to the central bank’s data, in the current fiscal year to date, the debt-ridden nation has seen a net flow of $152m in T-Bills through SCRA.

To note, these bonds offer attractive returns of 21.66% for three-month T-bills, 21.39% for six months, and 20.90% for 12-month papers, which are paid in Pakistan rupees (PKR).

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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