A net inflow of $79.56 million in foreign portfolio investments — or hot money — entered the country in June, the biggest since it registered a net inflow of $301.33 million in January, the BSP numbers showed. In May, the Bangko Sentral noted that there was a net outflow of $24.35 million compared with $450.87 million a year earlier. The United States, United Kingdom, Singapore, Malaysia and Luxembourg were the top five investor-countries in the Philippines, with a combined share-to-total of 80.1 percent. The United States again accounted for the largest amount of repatriated funds, totaling 64.7 percent of the money transfers from the Philippines. Foreign portfolio investment is also called hot money because of the ease with which the funds move in and out of a country.

Source: Manila Times July 13, 2017 17:15 UTC