Net hot money up 25% to $1.068B as of April 19 – BSP

Net foreign portfolio investments amounted to $1.068 billion as of April 19, up 25 percent from $855.69 million of about the same period last year, data from the Bangko Sentral ng Pilipinas showed over the weekend. The amount is the difference between total inflows of $8.814 billion—up 71 percent year-on-year from $5.151 billion—and $7.745 billion in outflows, 80 percent more than $4.295 billion in the same period last year. From April 15 to 19, there was a net outflow of $95.86 million, as inflows for the period of $496.73 million were against outflows of $592.58 million. Foreign portfolio investments are investments made by foreign investors in a country's stock market, government securities and money market. The funds are called "hot money" as they may be easily withdrawn practically any time. According to the central bank, the primary sources of hot money were the UK, the US, Hong Kong, Singapore, and Luxembourg were the primary sources of hot money in the country. The BSP has projected a net inflow of $3 billion for this year. — BM, GMA News