So-called “hot money” saw a net outflow of $58 million in August, the largest since May’s $24.35 million, central bank data showed. Hot money inflows totaled $936 million in August, down 34.7 percent from July and 46.7 percent lower compared to the same month last year. Year-to-dateYear to date, hot money registered a net outflows of $318.88 million, also a reversal from the $1.97-billion net inflows recorded year earlier. Transactions in PSE-listed securities yielded net inflows, while investments in peso GS and other peso debt instruments resulted in net outflows,” the BSP said. Foreign portfolio investments are called “hot money” because of the ease by which these can be invested and taken out of the country.

Source: Manila Times September 14, 2017 17:38 UTC