Cumulative net inflow into Special Convertible Rupee Accounts (SCRAs) increased by $22 million during November, 1-14, so far to $222.6 million, an State Bank of Pakistan (SBP) update on the subject said.
Non-resident investors from US, the UK, Switzerland, Hong Kong and Bahrain brought in the largest amounts viz., $140 million, $36 million, $25 million, $13 million and $10 million, respectively. During November alone so far, viz., up to November 14, net inflows from US, Hong Kong, British Virgin Islands and the UAE amounted to $20 million, $2.6 million, $2 million and $1 million, respectively.
During the same period viz., during the first 14 days of November, the largest net withdrawals were made by investors from Switzerland ($5.4 million) followed by much smaller withdrawals by Luxembourg ($0.3 million) and Bahrain ($0.1 million). Between July and November 14, Saudi Arabia and Germany continued to be the largest disinvestors taking out $4.1 million and $2.2 million, respectively.
No net inflow or outflow occurred on account of Bahamas, Japan and Kuwait during FY06 so far though they had been important investors. Foreign investors from various countries maintain their SCRAs with the authorised dealers in Pakistan for portfolio investment, including investment in stock exchange and government securities.