T-Bills Attract $194 Million From Foreign Investors in June

Foreign investors poured in $194 million in local T-Bills through Special Convertible Rupee Accounts (SCRA) in June 2024. In FY24 these inflows reached US$ 581 million, the second highest in the history of Pakistan, Topline Securities said in a brief market review. To recall in FY20 net T-Bills inflows of US$ 612 million came to Pakistan with a peak seen in the month of January 2020 with net monthly inflows of US$ 1.4 billion. Now that Pakistan has managed to reach a staff-level agreement with the International Monetary Fund (IMF) on a new long-term deal, analysts expect more such funds will come to Pakistan for high-yielding government papers thereby providing short-term support to Pakistan FX reserves and the rupee.