Foreign capital higher in July
They represented 85.7 percent of all countries with investments in the Philippines during that period.
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Daily TribuneThey represented 85.7 percent of all countries with investments in the Philippines during that period.
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The country attracted more foreign investments in July as net inflows reached $962 million, up from less than $1 million in June, the Bangko Sentral ng Pilipinas, or BSP, reported Thursday.
Net foreign inflows through BSP-authorized banks increased 77.2 percent to $1.6 billion in the month from $889 million in the previous month.
Meanwhile, gross outflows amounted to $614 million, down by 30.9 percent from $275 million month-on-month.
The bulk or 63.2 percent of gross inflows went to peso-denominated government securities with subscriptions amounting to $996 million.
Stocks nets $580-M inflows
They were followed by securities offered by firms listed in the Philippine Stock Exchange with 36.8 percent share and transaction value of $580 million.
"Most of these were investments made in banks, property, food, beverage and tobacco, (holding firms, and transportation services," a statement from the BSP showed.
The central bank said the United Kingdom was the top source of investments for July, followed by the United States, Singapore, Luxembourg and Germany.
They represented 85.7 percent of all countries with investments in the Philippines during that period.
Meanwhile, the lower gross outflows consisted of outward remittances worth $400 million toward the United States, the top destination for such transactions comprising 65 percent of the total.
From January to July, net inflows of foreign investments through BSP-authorized banks amounted to $158 million, lower than the $675 million in the same period last year.
