Foreign investors pulled out some more “hot money” in the third week of September, latest Bangko Sentral ng Pilipinas data showed.
On Sept. 19-23, the country posted a net outflow of foreign portfolio investments worth $84.7 million, as the $460.1-million outflow exceeded the $375.4-million inflow.
A net outflow meant that the hot money withdrawn were more than the amount that entered the country.
The net outflow was nonetheless lower than the previous weeks’ net outflows: $99.9 million on Sept. 1-2; $253.5 million on Sept. 5-9 and $347.8 million on Sept. 12-16.
For the period Sept. 1-23, the country recorded a net outflow of $785.8 million.
On a monthly basis, the country last posted a net hot money outflow in April. Net inflows were recorded from May to August.
Year-to-date foreign portfolio investments yielded a net inflow of about $1.3 billion, as the $13.4-billion inflow outpaced the $12.1-billion outflow.