PRELIMINARY data showed that the country’s gross international reserves (GIR) stood at $80.6 billion as of February, Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla, Jr. announced Wednesday.
This was lower than the $81.2 billion level recorded in January due to outflows arising from the foreign exchange operations of the BSP, payments made by the national government (NG) for its maturing foreign exchange obligations, as well as revaluation adjustments on the BSP’s gold holdings resulting from the decrease in the price of gold in the international market.
These were partially tempered by the NG’s net foreign currency deposits (which include proceeds from the new money component of the ROP Global Bonds issuance under the NG’s liability management transactions (LMT)) and income BSP’s foreign exchange operations. (PR)
Published in the SunStar Cebu newspaper on March 09, 2018.
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