THE Bangko Sentral ng Pilipinas (BSP) announced that the short-term foreign investments or “hot money” has exited the Philippines last October, as uncertainties hound the global economy.

According to the BSP, the foreign portfolio investments are also called “hot money”  due to the ease by which the fund enters and exits the markets.

They added that the investments in Philippine Stock Exchange-listed securities, peso-denominated government securities, peso time deposits with banks with minimum tenor of 90 days, other peso debt instruments, unit investment trust funds, and other instruments boost the Exchange Traded Funds and Philippine Depositary Receipts.

On the other hand, the Central bank data had shown a foreign investments in October of net outflows amounting to $328 million.

The net outflow meanwhile, resulted in $1.3 billion gross outflows and $954 million of gross inflows during the period.

“Investments for the month mostly came from the United Kingdom, United States, Luxembourg, Singapore, and Hongkong with a combined share to total at 88%,” the BSP said.