Based on BSP data, the net outflow of foreign portfolio investments, also called hot or speculative money, last March was a complete reversal of the $1.13 billion net inflow recorded in the same month last year. The BSP reported outflows of foreign portfolio investments surged by 85 percent to $2.47 billion from $1.34 billion, while inflows fell 29.8 percent to $1.73 billion from $2.47 billion. The BSP expects the Philippines to register a net outflow of foreign portfolio investments amounting to $200 million this year. Last year, the country booked a net inflow of foreign portfolio investments worth $1.2 billion and reversed the net outflow of $195.4 million in 2017. This was the highest in five years or since 2013 when the net inflow of speculative funds reached $4.22 billion.

Source: Philippine Star April 17, 2019 16:00 UTC