SHORT-TERM foreign investments surged in September to a net inflow of $1.03 billion, the Bangko Sentral ng Pilipinas (BSP) reported on Thursday.
SHORT-TERM foreign investments surged in September to a net inflow of $1.03 billion, the Bangko Sentral ng Pilipinas reported on Thursday.Foreign investments registered with the central bank through authorized agents — also known as 'hot money' because these can be moved quickly elsewhere to maximize profits from interest rates — reversed from the $698.01-million net outflow posted a year ago.It was also 92.1 percent higher than the $533.95-million net inflow recorded a month earlier.
The United States remained the main destination for the outflows, accounting for 51.1 percent or $769.93 millionSeptember's hot money inflows mostly went to peso government securities , while the rest were invested in Philippine Stock Exchange-listed securities , particularly banks, holding firms, property, transportation services, and food, beverage and tobacco companies.The bulk of these short-term investments, or about 88.
Hot Money Flows Surge To $1.03B
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