Oct hot money net outflow $179.8M

The movement of portfolio investments to and from the Philippines posted net outflows in October, still reflecting the impact of the US tapering of its economic stimulus program, the central bank said.

Foreign portfolio investments or “hot money” transactions in October showed a net outflow of $179.85 million, in stark contrast to the $969.33 million net inflow a year earlier, according to data released by the Bangko Sentral ng Pilipinas (BSP) on Thursday.