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 Bangko Sentral ng Pilipinas on Friday raised concern about an “excessively strong peso” even as the country’s surplus in its balance of payments (BOP) rose 4.4 percent year-on-year to $751 million in September.
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 Philippines posted surplus of $10.18 billion in its balance of payments (BOP) in 2011 due to the sustained rise in remittances from overseas Filipinos, but the surplus was down 29 percent from $14.31 billion in 2010 given the risk aversion that led to lower net inflow of foreign portfolio investments.
The surplus in the balance of payments reached $10.29 billion in the 11 months to November, supported by inflows from portfolio and foreign direct investments, and remittances, the Bangko Sentral ng Pilipinas reported Mondday.
The country posted a lower surplus in its balance of payments (BOP) in September, as the eurozone-induced jitters caused the pullout of portfolio investments from many emerging markets including the Philippines. The decline in the surplus was also partly blamed on weaker export income, as the lackluster performance of Western economies led to lower demand [...]
The surplus in the country’s balance of payments (BOP) surged to $1.27 billion in July, the Bangko Sentral ng Pilipinas reported on Friday. Documents from the BSP showed that the BOP has been posting surpluses for the fifth month in a row, with the level swinging between $200 million and $2 billion each month. The [...]
The country continued to post a surplus in its balance of payments in June, but the amount was slower as more obligations denominated in foreign currencies had to be settled. The Bangko Sentral ng Pilipinas reported Tuesday that the BOP surplus reached $222 million in June, down by nearly 60 percent from the $544 million [...]
