Business and Economy
PHL nets USD51.49-M hot money inflow
Strong investment inflows to the Philippines resulted in a net inflow of foreign portfolio investments in April 2017 to USD51.49 million. (Photo: Bangko Sentral ng Pilipinas/Facebook)
MANILA—Strong investment inflows to the Philippines resulted in a net inflow of foreign portfolio investments in April 2017 to USD51.49 million.
Data released by the Bangko Sentral ng Pilipinas (BSP) Friday showed that the inflow of net foreign portfolio, otherwise known as hot money due to the speed it comes in and out of an economy, in the fourth month this year was a turn-around from the USD354.05 million net outflow same period last year.
The net inflow was achieved after total inflows reached USD1.32 billion, higher than the USD1.27 billion outflows.
The total inflows last April is higher than the USD1.27 billion same period last year while total inflows in the fourth month this year is lower than year-ago’s USD1.63 billion.
As of the week ending May 5, 2017, foreign portfolio investments netted a USD644.3 million net outflow, higher than the USD116.14 million net outflow in May 6, 2016.
Total inflows to date reached USD5.08 billion while total outflows amounted to USD5.72 billion.
