PH registered BOP surplus of $274M in April
By Michelle V. RemoThe country’s balance of payments (BOP) reversed to a surplus in April as robust dollar inflows, mainly remittances and foreign investments, exceeded outflows.
The country’s balance of payments (BOP) reversed to a surplus in April as robust dollar inflows, mainly remittances and foreign investments, exceeded outflows.
Net inflow of dollars into the country grew in the first quarter as remittances remained strong and more foreign portfolio funds came in due to the favorable sentiment on the economy.
The country registered a higher surplus in its balance of payments (BOP) in January due to rising foreign portfolio inflows and income generated by the central bank from its securities investments.
The country’s external liquidity remained solid in 2012, with the balance of payments registering another surplus and the foreign-exchange reserves hitting an all-time high, the Bangko Sentral ng Pilipinas has reported.
The surplus in the country’s balance of payments (BOP) surged by nearly five times in November from a year ago, as optimism on the economy drove up investment inflows.
The Bangko Sentral ng Pilipinas said Wednesday that the country’s balance of payments (BOP) was expected to post a surplus of $6.8 billion this year, higher than the earlier projection of $2.7 billion.
The country registered a surplus of over $600 million in its balance of payments in October, driven partly by dollar inflows in the form of remittances, as well as investments in the business process outsourcing sector.
The country enjoyed a higher surplus in its current account in the first half due to a recovery in export earnings and sustained rise in remittances.
The surplus in the country’s balance of payments (BOP) fell to just $582 million in August from $2.72 billion in the same month last year as servicing of foreign debts fueled the outflow of dollars from the country.
The country’s balance of payments registered a surplus of $3.182 billion in July, up by 151 percent from $1.267 billion in the same month in 2011, the Bangko Sentral ng Pilipinas reported on Wednesday.
Foreign currency inflows to the country surpassed the outflows in May, with the balance of payments (BOP) hitting a surplus of $138 million during the month, the Bangko Sentral ng Pilipinas reported Tuesday.
The Bangko Sentral ng Pilipinas has cut its forecast on the country’s reserves of dollars and other foreign currencies for 2012, citing the adverse impact of the ongoing crisis in the eurozone on investment appetite of foreign fund owners.
