The Philippines posted a balance of payments (BOP) deficit of USD 724 mln in October, reversing a USD 1.5 bln surplus a year earlier. The deficit was due to the National Government withdrawing foreign currency to pay foreign debts and other expenses. However, the BOP position for January to October recorded a surplus of USD 4.4 bln, higher than the USD 3.2 bln surplus during the same period last year.