The succeeding weeks saw less significant amounts of outflows in comparison, with $47 million divested on March 17 and $92 million on March 20. And the trend does not seem likely to end anytime soon: just on April 1, foreign investors divested $48 million net worth of T-bills. There are two camps of thought when it comes to explaining what happened to foreign outflows. The SBP had last increased the policy rate on July 16, 2019 by 100 basis points to 13.25 percent. The central bank further kept the policy rate unchanged in its reviews on September 16 and November 2 in 2019, and on January 28 in 2020.

Source: Pakistan Today April 02, 2020 18:57 UTC