Transactions for the month yielded net outflows of $232 million as a result of the $1.5 billion outflows, which more than offset the $1.3 billion inflows for the month.
Transactions for the month yielded net outflows of $232 million.
The Philippines continues to bleed foreign currency, the flow of funds in September having headed still for the exit on net basis during the month, the Bangko Sentral ng Pilipinas (BSP) said on Thursday.
“Transactions for the month yielded net outflows of $232 million as a result of the $1.5 billion outflows, which more than offset the $1.3 billion inflows for the month,” the BSP said.
Still, the latest figure translates to an improvement from net outflows of $391.74 million in August this year and another $440.30 million in September last year.
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“(Gross) outflows for the month of $1.5 billion were slightly lower compared to the level recorded for August 2019 ($1.6 billion or by 4.5 percent),” the central bank said.
The bulk of the investments for the month exited to the US, which took the lion’s share of 75 percent.
Gross inflows in September saw a 7.2 percent increment to $1.30 billion versus only $1.21 billion a month ago. A majority of the investments reaching 80.2 percent were invested in securities listed at the local bourse and the remaining 19.8 percent were in peso-denominated government papers.
By country source, the United Kingdom, the United States, Singapore, Malaysia and Luxembourg were the top five investor countries for the month, comprising the bulk or 72.3 percent of the overall figure.
