GIR, balance of payments improved in October-BSP

The country's balance of payments position posted a surplus in October, the first time in seven months, allowing the gross international reserves to rise to $94 billion, the Bangko Sentral ng Pilipinas said Friday. Data from the BSP showed that the BOP yielded a $711-million surplus in October, following a deficit of $2.3 billion in September. The October surplus was, however, lower than the $1.14-billion surplus registered in the same month last year. This brought the 10-month BOP position to a deficit of $7.11 billion in the first 10 months, a reversal of the $476-million surplus a year ago. "The…