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Article: United States: Foreign investment hemorrhage topull down Philippine dollar surplus.
- Article from:
- TendersInfo
- Article date:
- August 4, 2008
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Byline: sander03
THE continued outflow of foreign portfolio investments is likely to pull down the countrys balance of payments (BOP) surplus, a Bangko Sentral ng Pilipinas (BSP) source said.
The BSP, which earlier said the countrys BOP surplus would reach $2.5 billion this year, is reviewing its forecast in light of the hemorrhage of money invested in the local stock market and in other peso-denominated financial assets.
"BOP surplus is expected to be lower than the $2.5 billion because of portfolio outflows. The BSP is now reviewing the ...