PHL posts $219-M BOP surplus in September
By: Philippines News Agency
October 20, 2015 1:58 AM
Bangko Sentral Governor Amando Tetangco Jr., file photo.
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MANILA - The Philippines� balance of payments (BOP) position - the sum of its total transactions with the rest of the world - reverted to positive territory in September 2015, with a surplus of US$219 million.
Data released by the Bangko Sentral ng Pilipinas (BSP) Monday showed that the September surplus is a turnaround from the $450-million deficit in August 2015 and is higher than year-ago�s $98 million.
It brought the end-September BOP surplus to $1.81 billion, way better than the $3.4-billion deficit same period last year.
BSP Governor Amando Tetangco Jr. traced the inflows last September to the central bank�s foreign exchange operations and income from its foreign investments.
He said deposits of the national government with the central bank also boosted the surplus and offset payments made by the national government for its foreign-denominated debt.
�This brought the cumulative surplus to $1.81 billion, making us poised to achieve our full-year projection of US$ 2 billion,� he said.
�The healthy BOP figure augurs well for stability in the foreign exchange market,� he added.