Philippines earns more dollars in September

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Metro Manila (CNN Philippines, October 18) — The country's balance of payments was at a $38 million surplus in 2019, according to latest Bangko Sentral ng Pilipinas (BSP) data.

This is a complete reversal from the $2.7 billion deficit recorded for the same month last year, but is also less than the $493 million surplus in August.

"Inflows in September 2019 were reflected in the National Government’s (NG) net foreign currency deposits and BSP’s income from its investments abroad," the BSP said in a statement.

Payments to national government debt tempered this month's dollar earnings.

The positive balance of payments position also reflected the gross international reserves as of September 2019, which reached a record high of $86.26 billion

READ: PH dollar reserves hit new all-time high in September