Hot money posts $819M net outflow for year-to-date

Foreign portfolio investments in and out of the Philippines slowed in the week ending August 22, bringing the year-to-date movement of speculative funds to a net outflow of $819.27 million, data from the Bangko Sentral ng Pilipinas (BSP) showed on Monday.

The weekly updates released by the BSP recorded a net inflow of $149.53 million for August 18 to 22, down from a net inflow of $209.23 million in the week of August 11 to 15. That was based on total foreign portfolio investment inflows of $434.78 million on record for the latest week in review, offset partially by $285.26 million of total outflows during the period.