In a statement, the central bank said this represents a 543-percent increase from the $310.77 million recorded during the same period in 2023.
In August 2024 alone, net inflows amounted to $533.95 million, an increase of 248 percent compared to the $153.46 million reported in August 2023.
Gross inflows for the month stood at $1.37 billion, with 51.2 percent of these investments going to securities listed on the Philippine Stock Exchange. The remaining 48.8 percent were directed toward peso-denominated government securities.
However, the August 2024 figure marked a 61.4-percent decline from the $1.38 billion net inflows seen in July. The BSP attributed this decline to a drop in gross inflows, which fell by 43.7 percent from July’s $2.43 billion.
Despite this month-on-month drop, the year-to-date figures underscore the continued attractiveness of Philippine financial markets, particularly for investors from Singapore, the United States, the United Kingdom, Luxembourg, and Malaysia, which collectively accounted for 81.5 percent of total foreign investments in August.
The central bank pointed out that registration of foreign investments is optional, but required for repatriation purposes if the investor seeks to use the Philippine banking system for foreign exchange transactions.
