- BI’s FX reserves increased by USD 4.8 Bn to USD 150.2 Bn in August 2024, driven by a combination of foreign inflows into equities, government bonds, and SRBI.
- BI had slowed down its net SRBI issuance in August to USD 3.85 Bn, a decrease of 50% and with lower yields from July, while foreign ownership starting to show sign of decline.
- Market expectations have largely been priced in, the pace of foreign inflows may slow down, which along with the decline in SRBI issuance could present some headwinds in Q4-24.
