Foreign investors divested $82 million of treasury bills (T-bills) on April 8, as per the Special Convertible Rupee Account (SCRA), which tracks inflows and outflows from foreign countries. The net investment in T-bills from July 2019 to date now amounts to $1.072 billion. Notable months include November 2019, which saw a monthly net investment in T-bills of $713 million, and January 2020, which recorded a monthly net investment of $1.413 billion. That came to an end in March, where foreign outflows, or ‘hot money’ began to leave the country just as quickly as they had poured in, mostly due to investor worry about the COVID-19 outbreak. The cumulative net investment in T-bills from July 2019 to March plummeted to $1.364 billion, after comfortably reaching $3.099 billion in February.

Source: Pakistan Today April 09, 2020 17:48 UTC