SHORT-TERM foreign investments remained negative in April with net outflows also having risen from the previous month, the Bangko Sentral ng Pilipinas reported late Friday.Foreign investments registered with the central bank through authorized agents, also known as 'hot money,' as the funds are frequently moved to maximize profits from interest rates, recorded a net outflow of $312 million.
9 percent.The US remained the main destination for outflows, accounting for 43 percent at $527 million.Year on year, inflows were 28.2 percent higher than April 2023's $713 million. Outflows, meanwhile, rose by 15.1 percent from the year-earlier $1.1 billion.'The $312 million net outflows in April 2024 are smaller compared to the net outflows recorded for the same period a year ago ,' the central bank noted.
Money Outflows Rise To $312M In April
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