The Market Monitor Minding the Nation's Business
Foreign portfolio investments, otherwise known as “hot money,” due to its transient nature, posted a net inflow of $344.23 million as of June 26, Bangko Sentral ng Pilipinas (BSP) data showed.
Total inflows reached $8.05 billion, higher than the $7.71 billion outflows during the same period.
However, the net inflow to date is lower than the $643.67 million in the week ending June 26, 2015.
Hot money inflo continues to be on the positive amidst volatilities in the global financial market.
Monetary officials are confident that hot money will end the year with net inflows despite the negative developments overseas since domestic fundamentals continue to improve.
In 2015, the country posted a net hot money outflow of $599.7 million, with withdrawals in the latter part of last year traced to anticipation for a hike in the Federal Reserve rates, which transpired on Dec. 16, 2015.