PH books $70 million in 'hot money' outflows in March


Posted at Apr 27 2023 05:34 PM

MANILA - The Philippines booked $70 million in net outflows of foreign portfolio investments in March, according to the Bangko Sentral ng Pilipinas. 

The BSP said transactions on foreign investments registered with the central bank, through authorized agent banks in March showed gross outflows of $1.33 billion and gross inflows of $1.26 billion. 

"This is smaller compared to the net outflows recorded in February 2023 ($531 million) and in March 2022 ($305 million)," the BSP said. 

Foreign portfolio investments are sometimes referred to as hot money due to the ease that they can enter and exit an economy. 

The BSP said majority of investments (or 64.6 percent) registered were in PSE-listed securities, while the remaining went to investments in Peso government securities (35.4 percent) and in other instruments (less than 1.0 percent). 

The top five sources of these investments last March were the United Kingdom, United States, Singapore, Luxembourg and Norway with combined share to total at 86.4 percent.