$ 802 m foreign outflow from govt. securities market by end Nov.

The government securities market has witnessed a net foreign outflow of $ 802 million in the first 11 months of 2018.

The Central Bank said yesterday that the government securities market and the CSE witnessed foreign investment outflows in November 2018. 

“The government securities market continued to experience a withdrawal of foreign investments recording a net outflow of $ 162 million in November, resulting in a cumulative net outflow of $ 802 million for the first 11 months of 2018,” it said. 

Foreign investments in the CSE, including both secondary and primary market foreign exchange flows, recorded a net outflow of $ 30 million during the month of November 2018. On a cumulative basis, the CSE recorded a net outflow of $ 29 million in the first 11 months of 2018 which comprised an inflow of $ 77 million to the primary market and a net outflow of $ 106 million from the secondary market. 

Long term loans to the Government recorded a net inflow of $ 3.3 million during November 2018.

As at end November 2018, gross official reserves were estimated at $ 7 billion, equivalent to 3.7 months of imports. Total foreign assets, which consist of gross official reserves and foreign assets of the banking sector, amounted to $9.7 billion as at end November 2018, equivalent to 5.2 months of imports. 

Workers’ remittances down