MANILA, March 1 -- Foreign portfolio investments or hot money registered with the Bangko Sentral ng Pilipinas (BSP) through authorized banks recorded net outflows of USD76 million in January this year.

Data released by the BSP late Thursday showed that this resulted from the USD1.3-billion gross outflows and the gross inflows of USD1.2 billion for the month.

The net outflow during the month was a reversal from USD291-million net inflow recorded in January 2023.

Foreign portfolio investments are also called hot money due to the speed with which it comes in and out of the economy.

The USD1.2 billion registered investments in January went up by 23.1 percent from the USD1 billion seen a year ago.

The BSP said 62.7 percent of these regist...