Moreover, the net purchase of  1  BIS Review 71/2000  shares by non-residents on the Johannesburg Stock Exchange fell from R40.6 billion in 1999 to only R6.8 billion in the first seven months of 2000. At first an inflow of other capital was able to offset the net sales of domestic bonds by non-residents.
In 1999 the net inflow of capital, including errors and unrecorded transactions, amounted to R27.1 billion, and in the first quarter of 2000 to a still satisfactory R3.1 billion. However, in the second quarter of 2000 a net outflow of capital was recorded, totalling R5.9 billion.