Foreign portfolio investments worth $961.05 million (around P49 billion) left the country in March, the Bangko Sentral ng Pilipinas (BSP) reported on Friday. Net outflows of these investments, also called “hot money” — so called because of how easily these go in and out of the economy — reversed February’s $40.06-million net inflows. The latest net amount resulted from the $953.80-million inflows and $1.91-billion outflows recorded in March. The figure was the widest since the $1.84-billion outflows in January 2014 and bigger than the $739 million that exited the country in March 2019. Top foreign investors in March were the United Kingdom, the United States, Singapore, Hong Kong and Luxembourg.

Source: Manila Times May 08, 2020 17:06 UTC