Hot money net outflows widen to $351.87M in April, BSP says

Foreign investments registered with the Bangko Sentral ng Pilipinas (BSP) or “hot money” posted higher net outflows in April, data released by the central bank on Thursday revealed.

Net outflows for the month stood at $351.87 million, wider than the $70.26-million net outflows in March and a reversal of the $1.407-billion net inflows recorded in April 2022.

This comes as gross inflows for the month declined to $712.83 million from $1.255 billion in March, and $2.230 billion in April 2022, with the majority or 57.3% going to securities listed in the Philippine Stock Exchange (PSE).

The remaining 42.7% went into peso government securities, while less than 1% went into other instruments.

The top investor countries for the month were the United Kingdom, the United States, Singapore, Luxembourg, and Norway, which