Pakistan attracts $57M Inflows

Staff Report

With high interest rate and stable currency, Pakistan has attracted US$57mn net dollar inflow into T-Bills through Special Convertible Rupee Accounts (SCRA) in the month of Jun 2024 till 7th, as per SBP.

In the month of May-2024, Pakistan attracted US$230mn which is highest monthly inflows after 4-Years.Inflows cross $1.5b in Roshan Pakistan Digital Account

Since Jul-2023 (FYTD) these net inflows have reached US$444mn.

To recall in FY20 net T-Bills inflows of US$612mn came to Pakistan with peak seen in month of Jan-2020 with net monthly inflows of US$1.4bn.

We believe, once Pakistan gets the new long term IMF deal, chances are high that more of such funds will come to Pakistan to get high yielding government papers thereby providing short term support to Pakistan FX reserves and currency.