Net portfolio inflows rise 52% in December

Reuters

Posted at Jan 17 2013 05:12 PM | Updated as of Jan 18 2013 01:13 AM

MANILA - Net portfolio inflows in December grew 52% to $212.7 million, but less than a quarter of November's inflows, the Bangko Sentral ng Pilipinas reported on Thursday.

Gross foreign portfolio inflows in 2012 reached $18.46 billion, the highest in 10 years, and gross outflows totaled $14.57 billion, resulting in a net inflow of $3.89 billion. 

The United Kingdom, the United States, Singapore, Hong Kong and Luxembourg were the top investor countries in December. 

Registration of foreign investments with the central bank is voluntary, but is required if investors want to buy foreign currency to be sent out of the country.

The Philippine central bank's policy stance of low interest rates remains appropriate, Governor Amando Tetangco said on Tuesday, ahead of a policy review on Jan. 24. Its key overnight borrowing rate is at a record low of 3.5 percent after a total 100-basis-point cut in 2012.