BOP swings back to $3.1-B surplus in February

The Bangko Sentral ng Pilipinas (BSP) headquarters in Manila. —INQUIRER FILE PHOTO

MANILA, Philippines — The country’s balance of payments (BOP) position returned to a surplus of $3.1 billion in February, the highest in five months.

Latest data from the Bangko Sentral ng Pilipinas (BSP) showed that the February BoP — a summary of the country’s economic transactions with the rest of the world — had reversed the $4.1 billion deficit in January.

READ: PH dollar deficit hits $4.1B in January, widest in 11 years

“The BOP surplus reflected the national government’s net foreign currency deposits with the Bangko Sentral, which include proceeds from ROP (Republic of the Philippines) Global Bonds, and net income from the BSP’s foreign investments,” the central bank said.