Outflow of $7.3 mn from SCRA

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Outflow of $7.3 mn from SCRA

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25 October,2009 07:41 pm

Foreign investors withdrew $7.3 million from Pakistani stock markets during last week after investing for three consecutive months, reported Dunya News. According to the State Bank of Pakistan (SBP) foreigners made a buying of $ 24.8 million in Special Convertible Rupee Account (SCRA) last week. During the same period, $32.1 million were taken out from the markets. On the other hand, selling of $8.3 million by mutual funds was also recorded collectively. Investors were avoiding taking new positions due to deteriorating law and order situation in the country, analysts said.