PH posts USD4-M net hot money inflow in August

MANILA - - Philippines posted USD 3.95 million net inflow of foreign portfolio investments during the shortened trading days in the week covering August 21-25, 2017,  a turn-around from the previous week.

August 21, 2017 is a holiday due to the commemoration of the Ninoy Aquino Day.

Data released by the Bangko Sentral ng Pilipinas (BSP) Thursday showed the net inflow of hot money, dubbed due to the speed it comes in and out of an economy, was an improvement from the USD143.83 million net outflow in the week ending August 18.

Total inflows during the week amounted to USD183.80 million, slightly higher than the USD179.85 million outflows.

The net inflow in the recent week was, however, lower than the USD20.28 million net inflow in the week covering August 22-26, 2017.

Total inflows in the said week a year ago reached USD354.63 million while outflows reached USD334.35 million.

To date, the country’s total hot money stood at USD292.63 million net outflow, a reversal from the USD2.077 billion net inflow same week in 2016.

The country ended 2016 with a net hot money inflow of USD404.43 million.

The central bank’s hot money assumption for 2017 is a net outflow of USD0.9 million. (PNA)