Foreign investors withdrew a net $ 135.5 million from the Pakistani Treasury bills as of March 14, 2025, driven by a significant decrease in interest rates and early signs of a decrease in the value of rupees, according to state bank data in Pakistan (SBP).
The external flow reflects a shift in the feelings of investors, after a period of big flows earlier in the fiscal year.
Foreign investments in T -lds reached 16.636 million dollars, while the total withdrawals amounted to 152.108 million dollars, leaving a net flow.
Between July 1, 2024 and 14 March 2025, the total investments in T -lds amounted to 1.163 billion dollars, with the sale of $ 1.121 billion, which led to a modest net flow of $ 42 million.
Analysts noted that the important output flows in recent months, including $ 156.1 million in December 2024, $ 48.9 million in January 2025, and $ 135.5 million by mid -March, reflect a transformation in the investor’s behavior after a period of strong flows, especially in the first half of 2024. They said that this reflection is due to the foreign profit that was evaluated in the first stage. It was invested.
The decrease in interest rates by 10 degrees Celsius, and has made the early signs of the T-BILLs’ violation is less attractive, which led to the benefit of risks between investors. Although there is a brief recovery in February 2025 at $ 46.9 million in flows, the subsequent flow in March indicates that the feelings are still cautious.
Analysts believe that investor flows depend on the Pakistani Rural path, the expectations surrounding interest rates, and the stability of the wider macroeconomic. They expect SBP to maintain interest rates unchanged in the foreseeable future, with possible discounts in the last half of 2025.
