Jan. dollar outflow highest since 1999

FOREIGN portfolio investments to the Philippines or “hot money” posted a net outflow of $1.84 billion in January, the biggest monthly net outflow based on available data since 1999.

In a statement, the central bank said that the month’s overall net outflows are more than five times the $354 million recorded the previous months, and a sharp reversal from the $1.3-billion net inflow a year ago.