The local debt market is headed for its first annual inflow in five years due to high yields and a more stable rupee, reported Bloomberg.
The State Bank of Pakistan on Monday reported net foreign inflows into treasury bills at $875 million in 2024, a big reversal from four consecutive years of outflows of $1.4 billion.
The nation’s treasury bills now offer yields between 16 percent and 17 percent which has attracted overseas interest.
“Investors see a stable currency and high rates that are attracting them to Pakistan,” a Karachi-based wealth manager said in a statement.
It bears mentioning that Pakistan’s foreign reserves have also surged to their highest level in over two years after the approval of a $7 billion IMF loan package.
According to Bloomberg data, the country’s benchmark stock exchange index has soared 73 percent in the past year, making it the world’s best performer, while its dollar bonds have returned nearly 40 percent in 2024.
Stay Connected with ProPakistani
Get the latest business news, market insights, and economic updates wherever you prefer.
Add ProPakistani to Preferred Sources and see more of our stories in Google Search and Top Stories.
