Short-term foreign portfolio investments or “hot money” stood at a net inflow in February, data released by the Bangko Sentral ng Pilipinas (BSP) on Thursday showed.
Short-term foreign portfolio investments or “hot money” stood at a net inflow in February, data released by the Bangko Sentral ng Pilipinas on Thursday showed.Foreign portfolio investments registered with the BSP are also called hot money due to the ease by which the funds enter and exit the markets.
6% were channeled through Philippine Stock Exchange-listed securities amounting to $598 million.Most of the investments in PSE-listed securities were poured in banks; transportation services; , Luxembourg, and Hongkong with a combined share of 89.1%,” the BSP said.Meanwhile, $859 million worth of capital exited the country in February, albeit lower by 34.5% than the $1.3 billion gross hot money outflows seen in January.
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