BOP reverted to deficit in March 2025

Bangko Sentral ng Pilipinas reports that the country posted a balance of payments deficit of $2 billion in March 2025. (File photo / Philippine Daily Inquirer)

MANILA, Philippines – The Philippines posted a balance of payments (BOP) deficit of $2 billion in March after the government paid some of its foreign debts while the central bank sold some dollars from its international reserves to avoid a sharp peso slump.

That was a reversal from the $3.1-billion BOP surplus in February, latest data from the Bangko Sentral ng Pilipinas (BSP) showed.

“The BOP deficit reflected the national government’s drawdowns on its foreign currency deposits with the BSP to meet its external debt obligations, as well as the BSP’s net foreign exchange operations,” the central bank said.