Philippines reports $3.1 billion BOP surplus in February

The Philippines reported a balance of payments (BOP) surplus of $3.1 billion for February. This marks the highest surplus in five months. Data from the Bangko Sentral ng Pilipinas (BSP) revealed that this surplus comes after a $4.1 billion deficit in January. The BOP provides an overview of the country's economic transactions with the rest of the world. The BSP noted that the surplus was due to the government's net foreign currency deposits. This includes money from Republic of the Philippines Global Bonds and earnings from the BSP’s foreign investments.