T-bills continue to attract foreign capital

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MG News | October 14, 2024 at 03:16 PM GMT+05:00

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October 14, 2024 (MLN): Foreign investors maintained a strong interest in Pakistani T-Bills, injecting $89.35 million in the first four days of October 2024, according to latest data from the State Bank of Pakistan (SBP).

Last month, Foreigners had parked $89.5m into T-Bills through Special Convertible Rupee Accounts (SCRA) as the country continues to experience growing confidence amidst improved economic conditions and a stable exchange rate.

In the current fiscal year to date, the debt-ridden nation has witnessed a notable net inflow of $292.42m in T-Bills through SCRA.

To note, despite a notable decline in the past few months, these bonds still offer attractive returns of around 14.3980% for six-month, and 13.7350% for 12-month papers.

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.

Copyright Mettis Link News

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