Bangko Sentral ng Pilipinas Deputy Governor Diwa Guinigundo said strong inflows from higher foreign direct investments (FDIs) and foreign portfolio investments translate to higher liquidity. Inflows of foreign portfolio investments or hot money reached more than $800 million since the start of the year. The central bank’s liquidity absorption facility was oversubscribed anew yesterday with tenders for the three tenors reaching P69.99 billion versus the issue size of P50 billion. Tenders for the P20-billion seven-day term deposits reached P36.76 billion, while bids for the 14-day tenor amounted to P21.87 billion versus the P20 billion offering. Likewise, the 28-day tenor was oversubscribed as bids amounted to P11.36 billion versus the offer size of P10 billion.

Source: Philippine Star February 27, 2019 15:56 UTC