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$15-M net hot money inflow in July

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By Lee C. Chipongian

The Bangko Sentral ng Pilipinas (BSP) registered $15 million net foreign portfolio investment inflow in July, reversing the $35 million net outflows of the previous month.

Bangko Sentral ng Pilipinas (BSP) logo

In a statement, the BSP said the net inflows were achieved amid “better-than-expected inflation data for the month of July coupled with easing domestic inflation for the second quarter of 2019, and stronger peso forecast.”

The $15 million July net inflows is lower compared to same time last year of $53.29 million net inflows. The BSP said it registered investments of $1.7 billion in July, 19 percent higher than June’s $1.4 billion.

It said about 76.5 percent of investments went into listed securities such as banks, holding firms, property companies, retail firms, and food, beverage and tobacco companies.

About 23.5 percent were invested in peso government securities.

In July, the top five investing countries are the United Kingdom, Hong Kong, the US, Norway, and Malaysia, with a combined share of 75.6 percent of total hot money flows.

The outflows of $1.7 billion in July were 15.1 percent more than June’s $1.4 billion, and the BSP said the US continue to be the recipient of most of these withdrawals, about 77.8 percent of total.

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