BOP surplus hits $751-M in Sept

Posted at 10/19/12 3:16 PM

MANILA, Philippines - The surplus in the country's balance of payments, a key measure of money coming in and out of the country, rose in September, adding to pressure on the peso to rise.

The BOP surplus widened to $751 million in September, compared with $582 million in August. 

The Bangko Sentral ng Pilipinas says it is reviewing its forecast of a $2.6 billion surplus for the year and could announce an upward revision soon.

Still, the cumulative 9-month surplus is smaller than last year at $5.8 billion compared with $9.72 billion.

The BSP cites slower growth in OFW remittances this year. - ANC