Hot money net inflows increased to $1.4b in July on rising optimism

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Foreign investments registered with the Bangko Sentral ng Pilipinas through authorized agent banks yielded net inflows of more than $1 billion in July 2024 on rising optimism ahead of the expected interest rate cuts by the BSP and the US Federal Reserve.

The July figure resulted from $2.43 billion gross inflows and the gross outflows of $1 billion. The gross investments jumped 133 percent from $1 billion in June. Most of them were invested in banks, holding firms, property, transportation services, and food beverage and tobacco. The BSP said that on a year-on-year basis, registered investments increased 54.3 percent from $1.58 billion in July 2023, while gross outflows also rose 70.6 percent from $614.93 million.

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MlaStandard /  🏆 20. in PH

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