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Friday, March 29, 2024

Hot money reached $763 million in January

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Net inflows of foreign portfolio investments or “hot money” jumped to $763 million in January from $162 million a year ago, on investors’ positive reaction to the declining inflation rate, the Bangko Sentral ng Pilipinas said Thursday.

The January net inflow was also higher than the $278-million net inflow in December 2018.

“This may be attributed to investor optimism arising from the easing trade tension between the US and China and the decline in inflation alongside the increase in net foreign buying in PSE-listed shares in January 2019,” the BSP said.

Inflation rate eased to 4.4 percent in January from 5.1 percent in December 2018.

Net inflows were noted for PSE-listed securities ($506 million); peso government securities ($256 million); and peso time deposits (less than $1 million). 

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Registered investments amounted to $2.1 billion in January, up by 30.5 percent from $1.6 billion inflows in December 2018. Inflows also reflected a 27-percent from a year earlier. 

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