Friday 20 September
Sep 8, 2019 @ 16:05

PH dollar reserves soar to 3-year high to $85.6B

 

The country’s dollar reserves surged to a record $85.6 billion in August, largely due to inflows from the central bank’s foreign exchange operations and income from its investments abroad.

“The month-on-month increase in the GIR (gross international reserves) level reflects the national government’s net foreign currency deposits and BSP’s income from its investments abroad,” said Bangko Sentral ng Pilipinas Governor Benjamin Diokno.

Last month’s GIR was equivalent to a 7.5 months worth of imports and payment services and 5.2 times the country’s short-term external debt.

The increase in dollar reserves was partly tempered by payments for foreign debt, the BSP said.

Please follow and like us:
error

Tags: , , , ,

Related Stories
The import cover ratio now stands below eight months.
The local unit of French oil and gas giant Total S.A. has partnered with PayMaya
Facebook is set Tuesday to unveil a bid to bring cryptocurrency payments into the mainstream,
The European Union will oblige credit card giants Visa and MasterCard to reduce their fees


 

Trending News

Copyright © 2019 Bilyonaryo - Latest news on the richest Filipinos and Family Business.