The country’s balance of payments (BoP) position hit a deficit of $368 million in October, the Bangko Sentral ng Pilipinas (BSP) reported on Monday, wider than the $183-million shortfall recorded a year earlier.
“Outflows stemmed mainly from the foreign exchange operations of the Bangko Sentral ng Pilipinas (BSP) and payments made by the National Government (NG) for its maturing foreign exchange obligations during the month in review,” the central bank said in a statement.
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