The Special Convertible Rupee Accounts (SCRAs), which amounted to around $15 million ($14.8 million to be exact) during the first 12 days of FY07, registered a marginal decline to $14.6 million on July13, according to the latest SBP update posted on the central bank''''s web on July 14.
USA, whose SCRAs receded by over $2 million from nearly $6 million ($5.7 million to be exact) on July 12 to $3.6 million on July 13, was mainly responsible for the decline. Minor additional withdrawal of $0.004 million also took place in the case of Hong Kong whose overall withdrawals increased, marginally, from $0.024 million on July 12 to $0.028 million on July 13.
The largest fresh inflow, of $l million, was reported in the case of Singapore, whose balance improved from $11.3 million on July 12 to $12.3 million on July 13. Singapore thus continued to hold the first position during FY07 so far.
Withdrawals by Swiss investors, which amounted to about $5 million ($4.7 million to be exact) on July 12, squeezed to $4 million on July 13, meaning a fresh inflow of about $0.7 million.
Other minor to moderate inflows were also reported in the case of UK (up $0.1 million over July l2) and UAE (up $0.08 million).
In the meanwhile, KSE 100 Index (November 1991=100) rose from 9,604 on July 3 to 9,921 on July 12 and continued rising to close above the 10,000 mark at 10,027 on July 14.
It may be recalled that earlier on, KSE 100 Index had plummeted to 8,767 on June 14 2006 amid allegations on stockbrokers of a foul play after having surged to 12,274 on April 17.
Comparably, the SBP General Index of Share Prices (2000-01=100), which covers all other shares, rose from 413 on July 3 to 421on July 13 after having dipped to 389 on June 14. Like KSE 100, SBP Index was also at its highest of 538 during FY06 on April 17. (Report by research.dept@aaj.tv)