BSP rebuilds GIR further in February
The figure is recovering from multi-year lows.
The country’s gross international reserves rose further to $82.9 billion in February, sustaining an improvement from January’s $82.49 billion.
The Bangko Sentral ng Pilipinas said this is due to inflows from foreign exchange operations, as traders believe that the central bank is taking advantage of the stronger peso to build up their dollar reserves.
The import cover also returned to 7.3 months, while the debt cover also rose to 6.3 months for short-term foreign loans.