Hot money inflows cross $3bn

KARACHI: The foreign investment, commonly known as hot money, in treasury bills has crossed the $3 billion-mark, showed the State Bank’s latest data issued on Friday.

However, the hot money inflows in T-bills in the ongoing month was relatively slower at $215 million taking the total to $3.114bn. In January alone, the government papers attracted an investment of $1.5bn.

Sources in financial circle said after positive remarks by the IMF on growth of the economy, more foreign investors are expected to buy T-bills.

The data showed that out of the total inflow of $3.114bn, the investment in PIBs was just $35.8m while the rest was parked in T-bills.