BoP hits 6-mo high surplus in Oct

The country's balance of payments surplus reached a six-month high of $1.14 billion in October, according to the Bangko Sentral ng Pilipinas data.The result, which was released on Tuesday night, was lower than the $3.43 billion surplus in October 2020, but it more than made up for the $412-million shortfall in September this year. It was also the biggest surplus since April of this year, when the payments position was $2.61 billion in the surplus.

' Personal remittances – cash or kind transfers between families — increased by 5.7 percent to $25.69 billion in the January-September this year from $24.30 billion in 2020, latest figures from the central bank showed.Meanwhile, the Bureau of the Treasury reported that the government's net foreign borrowings for the nine months ending September 2021 was P287.55 billion. Net inflows of FDIs, on the other hand, totaled $6.4 billion in the first eight months of this year.

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