MANILA -- Volatilities in the financial market as a result of the uncertainties overseas continue to result in net outflows of foreign portfolio investments in the Philippines as of the week ending August 18, 2017.
Data released by the Bangko Sentral ng Pilipinas (BSP) Thursday showed that total inflows of foreign portfolio investments, otherwise known as hot money due to the speed it comes in and out of an economy, as of the third week of August reached USD10.405 billion, lower than the USD10.701 billion outflows.
These figures resulted in a USD296.58 million net outflow.
During the week ending Aug. 19, 2016, total hot money inflows amounted to USD11.979 billion, higher than the inflows to date while total outflows reached USD9.921 billion, thus resulting in net hot money inflows of USD2.06 billion, a big reversal from the latest figure.
Monetary officials have set a USD900 million net hot money outflow assumption for 2017.
In 2016, the country registered a USD404.43 million net hot money inflow. (PNA)
Hot money outflows reach USD297 M
By Joann Villanueva
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