SHORT-TERM foreign investments turned negative in June following a net inflow in the previous month, the Bangko Sentral ng Pilipinas (BSP) reported on Thursday.
SHORT-TERM foreign investments turned negative in June following a net inflow in the previous month, the Bangko Sentral ng Pilipinas reported on Thursday.The investments registered with the central bank through authorized agents, also known as 'hot money,' as these can quickly be moved to maximize profits from interest rates, recorded a net outflow of $27 million.This was a reversal from net inflows of $43 million and $1 million posted a month earlier and in June last year.
The US remained the main destination for outflows, accounting for 55.8 percent at $597 million.Year on year, inflows rose from June 2023's $889 million, while outflows were also higher than year-earlier $889 million.Year to date, hot money flows remained positive at a net $81 million, reversing from the $804-million net outflow in the comparable 2023 period.Security Bank Corp.
Money Flows Turn Negative In June BSP
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