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Thursday, March 28, 2024

Hot money posted net outflow in July

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Foreign portfolio investments or hot money posted a net outflow of $125.15 million in the week ending July 26, up significantly from the $17.34-million net outflow a year ago, the Bangko Sentral ng Pilipinas said over the weekend.

Total inflows for the week hit $339.04 million, higher than $171.57 million a year ago.  Gross outflows reached $464.18 million, also higher than $188.91 million in the same period last year.

This brought portfolio investments since the start of the year to a net outflow of $688.19 million, a reversal of the $365.45-million net inflow in the same period in 2018.

Foreign portfolio investments are called hot money because of the ease they are invested in and taken out of the local financial markets. 

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