Daily News

Almost $1 Bn hot money left PH in March

Foreign portfolio investments posted a net outflow of $961.05 million in March, reversing from a net inflow of $40.06 million a month earlier, the Bangko Sentral ng Pilipinas (BSP) or central bank said. The hot money net outflow was also wider than the $739 million net outflow in March last year, according to BSP data. The central bank cited negative sentiment “that has prompted investors to liquidate portfolios and keep money in cash amid heightened worries over the adverse economic impact of the coronavirus disease 2019 (COVID-19) pandemic.”