BOP posts ninth month of surplus in October

BOP posts ninth month of surplus in October

In its latest report, the Bangko Sentral ng Pilipinas (BSP) revealed that Philippine payments positions registered a surplus for the ninth consecutive month in October.

Balance of payments (BOP) position posted a $3.44-billion surplus in October, up from $2.104 billion in September and $163 million in October 2019. The BOP consists of Philippine transactions with the rest of the world during a specific period.

“The BOP surplus in October 2020 reflected mainly the BSP’s income from its investments abroad, the National Government’s (NG) foreign currency deposits with the BSP, and inflows from the BSP’s foreign exchange operations,” BSP said in an accompanying statement.

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