The Philippines' foreign portfolio investments sustained its net inflow in November, amounting to 1.7 billion U.S. dollars, the Philippine central bank said Thursday.
Total investments or "hot money" in November was up by 65.3 percent from the 1 billion U.S. dollars net inflow in the previous month and significantly higher than the 73 million U.S. dollars posted a year ago.
The Bangko Sentral ng Pilipinas (BSP) said this brings 11-month transactions to a net inflow of 4.2 billion U.S. dollars or an increase of nine times over the 431 million U.S. dollars net inflow posted over last year.
The United States, Singapore, the United Kingdom, Luxembourg and Hong Kong were the top five sources of hot money, a chunk of which were put in the Philippine stock market, BSP said.
