• Hot money inflows hit 2-yr high at $1.19B

    0

    The Bangko Sentral ng Pilipinas (BSP) on Thursday reported that net ‘hot money’ inflows climbed to a two-year high of $1.19 billion in February.

    The previous record high was set in January 2013 at $1.27 billion.

    The February foreign portfolio investment inflow reversed the $354.86 million net outflow a year earlier, according to data released by the BSP.

    On a month-to-month basis, the level of hot money inflow in February was up 101 percent from the $591.17 million net inflow recorded in January.

    Outflows reached $1.36 billion, compared with $1.85 billion a year earlier, while February inflows were recorded at $2.55 billion from the previous year’s $1.5 billion.

    According to the BSP, transactions in all investment instruments yielded net inflows:  Philippine Stock Exchange-listed securities ($637 million), placements in peso-denominated government securities ($479 million), and peso time deposits ($75 million).

    About 66.4 percent of the investments flowed into PSE-listed securities, while 30.6 percent went to peso-denominated government securities, and 3 percent went to peso time deposits, the BSP said.

    “Singapore, the United Kingdom, the United States, Luxembourg and Hong Kong were the top five investor countries for the month, with combined share to total of 82.1 percent. The United States continued to be the main destination of outflows, receiving 81.9 percent of the total,” the BSP said.

    Last year, foreign portfolio investments registered a net outflow of $310.21 million.

    Share.
    loading...
    Loading...

    Please follow our commenting guidelines.

    Comments are closed.