THE Bangko Sentral ng Pilipinas, said that based on data, that some short-term foreign portfolio investments or “hot money” had been recorded as to have exited in 2023.

According to a statement from the BSP, this is amidst the backdrop of uncertainties on the global economy and high interest rates environment.

The foreign portfolio investments that were registered with the BSP, have likewise been tagged as hot money, mainly due to the ease by which the funds enter and exit the markets.

Most of it are from 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 such as Exchange Traded Funds and Philippine Depositary Receipts.

According to the data from the BSP, it showed that the foreign investments registered with the central bank.

It showed that from January to December 2023, it yielded net outflows of $247 million.

It showed a reversal from the $887-million net inflows seen in the same period in 2022.