A six-year high of $961.05-million foreign portfolio investments left the Philippines in March, Bangko Sentral ng Pilipinas (BSP) data showed. March’s net outflows of “hot money” — so called because of how easily these go in and out of the economy — was a turnaround from February’s $40.06-million net inflows. The latest amount was the biggest since the $1.84-billion net outflows in January 2014 last year, more than the year-earlier net outflows of $739 million. March net outflows resulted from the $953.80-million inflows and $1.91-billion outflows recorded that month.

Source: Manila Times May 08, 2020 04:41 UTC