Philippines Balance of Payments at $531 Million Deficit in January 2018
Manila | 19th February 2018
The country’s overall balance of payments (BOP) position in January 2018 posted a deficit of US$531 million, higher than the US$9 million deficit record in the same month last year.
” PHILIPPINES BALANCE OF PAYMENTS IN JANUARY 2018 AT $531 MILLION DEFICIT “
Outflows in January 2018 stemmed mainly from foreign exchange operations of the BSP and payments made by the National Government (NG) for its maturing foreign exchange obligations. These were offset by net foreign currency deposits of the NG and income from the BSP’s investments abroad during the month in review.
Source: Bangko Sentral ng Pilipinas