MANILA - The Philippines booked $417 million in net inflows of foreign portfolio investments (FPIs) or "hot money" in May, the Bangko Sentral ng Pilipinas said on Friday.
The BSP said there were $1.46 billion gross inflows and $1.04 billion gross outflows of hot money registered with the central bank for the month.
"This is a reversal from the net outflows of $374 million recorded in April 2021," the BSP said.
FPIs are sometimes referred to as hot money over the ease with which they enter and exit an economy.
The $1.5 billion registered investments for May reflected a 124 percent increase compared to the $651 million recorded in April 2021, the BSP said.
About 67.9 percent of investments registered were in PSE-listed securities while the remaining 32.1 percent went to investments in peso-denominated government securities.