UK sells $237 million of T-Bills in March 2020

March 10, 2020 (MLN): The net foreign inflows in Treasury bills (T-Bills) during July 1, 2019 till March 9, 2020 was recorded at $2.88 billion, this led the overall Foreign Investment to arrive at $2.83 billion, revealed State Bank of Pakistan (SBP)’s latest data. During the period mentioned above, total inflows in only T-bills amounted to $3.43 billion wherein inflows of $2.33 billion came from United Kingdom (UK) $892 million from the United States (USA) whereas UAE invested $109 million. The data revealed that net foreign selling in treasury bills in the month of March amounted to $238 million wherein UK divested $237 million from T-bills against a buying of $17.94 million, resulting in the net outflow of $220 million. Similarly in the single session on March 9, 2020, there was an outflow of $58.5 million from T-bills in which foreign selling from the UK pegged at $57.88 million. Meanwhile, inflows in PIBs from July 1, 2019 to March 9, 2020 amounted to $60.48 million. Within the same time period, the inflows from the UK stood at around $25 million and from Luxembourg at $24.67 million. With regards to equity investment, inflows in the said period were recorded at $615 million while outflows stood at $724 million, showing that foreigners divested a net amount of $108 million from Pakistan’s capital market.