July PH ‘hot money’ net inflow plunges 91%

Bangko Sentral ng Pilipinas

MANILA, Philippines — Foreign investors dumped government securities in July but turned buyers in the local stock market, resulting in a significantly smaller net inflow of portfolio investments for the month.

Data from the Bangko Sentral ng Pilipinas (BSP) showed foreign portfolio inflows (FPI) surpassed outflows by $66 million in July, plummeting 91 percent from the net inflow recorded a year earlier.

READ: BSP: ‘Hot money’ inflow shrank 27% to $170M in June

Article continues after this advertisement