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'Hot money' inflows reach $301-M in January

February 16, 2017 2:02 PM
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MANILA - Foreign portfolio investments yielded a net inflow of $301.33 million in January on the back of the country's strong macroeconomic fundamentals, the Bangko Sentral ng Pilipinas said Thursday.

The net inflow was a reversal from the net outflow of $129.85 million booked in the same month last year, the central bank said.

Registered investments in January grew 8.7 percent to $1.1 billion due to optimism in the economy, which grew 6.6 percent in the fourth quarter, it said.

The United Kingdom, United States, Singapore, Luxemborg, and Hong Kong were the top five investor countries while the United States continued to be the main destination of outflow for the month, it added.

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