BOP surplus nears 4-year high

The country's balance of payments (BOP) position remained in a surplus for the third straight month and hit an almost four-year high of $3.5 billion in September on the back of net income from investments abroad.

- By LOUISE MAUREEN SIMEON

Latest data from the Bangko Sentral ng Pilipinas (BSP) showed a $3.53-billion surplus in the September BOP, a marked reversal from the $414-million deficit in the same period last year.

It marked the third straight month of BOP surplus or since hitting $62 million in July.

Similarly, the September BOP is also the largest in almost four years or since the $4.24 billion logged in December 2020.

According to the BSP, the September BOP surplus is a reflection of the inflows from the government's net foreign currency deposits with the BSP and net income from the central bank's investments abroad.