Philippine central bank: October balance of payments at USD 711-million surplus

MANILA, Nov 18 (Reuters) – The Philippines’ overall balance of payments (BOP) position was a surplus of USD 711 million in October, lower than the USD 1.1 billion surplus recorded in the same month last year, the central bank said on Friday.

The BOP surplus for October reduced the cumulative BOP deficit in January-October to $7.1 billion from a deficit of USD 7.8 billion in the first three quarters of the year, it said in a statement.

(Reporting by Enrico Dela Cruz; Editing by Christopher Cushing)