Wednesday, 19 May 2010

Balance of payments surplus hits $982 million in April


The surplus in the country's balance of payments (BoP) more than doubled in April, the Bangko Sentral ng Pilipinas reported.

The surplus swelled to $982 million last month, more than double the $466 million notched in the same period last year.

The total BOP surplus for the first four months of the year hit $2.3 billion, up 6.69% from $2.3 billion in the same period last year.

The BOP is a record of a country's transactions with other countries. A higher surplus means more foreign currency entered the country, improving its ability to repay external obligations.

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