Net ‘hot money’ outflows hit $352M in April, up from $70M in March

MANILA -The outward flow of short-term foreign investments or “hot money” that were registered with the Bangko Sentral ng Pilipinas increased to $352 million in April from $70 million in March, and reversed from net inflows of $1.4 billion in April last year.

This was the third month in a row of net outflows starting with $531 million in February, which followed four straight months of net inflows.

The Bangko Sentral ng Pilipinas said in a statement that in April, $713 million of BSP-registered foreign investments flowed in while $1.1 billion flowed out.

Gross outflows were 20 percent lower than the $1.3 billion recorded in March. About 71 percent of the amount went to the Unite…

Keep on reading: Net ‘hot money’ outflows hit $352M in April, up from $70M in March