'Hot money' outflows surge to $352M

May 26, 2023 12:20 am

NET 'hot money' flows remained negative in April and were substantially higher compared to a month earlier, the Bangko Sentral ng Pilipinas reported on Thursday.

Foreign investments registered with the central bank through authorized agent banks (AABs) saw a net outflow of $352 million, about five times higher than the $70 million posted in March. It was also a reversal from the year-earlier net inflow of $1.4 billion.

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