Friday 20 July 2018
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7 days ago

June ‘hot money’ outflows accelerate as bears dominate stocks

Foreign capital lodged in short-term investments flowed out of the Philippines for a second consecutive month in June---a phenomenon attributed by the Bangko Sentral ng Pilipinas to rising returns overseas and investors worries about high domestic inflation and the weakening currency. In a statement, the central bank said $516 million worth of registered foreign portfolio investments left the country last month, reversing the $73 million in net inflows reported during the same period last year. The June

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