Philippines International Reserves at $80.3 Billion in November 2017
Manila | 7th December 2017
Preliminary data showed that the country’s gross international reserves (GIR) stood at $80.3 billion as of end-November 2017. This was lower than the US$80.4 billion level recorded in October 2017 due mainly to outflows arising from payments made by the National Government (NG) for its maturing foreign exchange obligations as well as revaluation adjustments on the gold holdings of the BSP resulting from the decrease in the price of gold in the international market.
” PHILIPPINES RESERVES AT $80.3 BILLION IN NOVEMBER 2017 “
The end-November 2017 GIR level remains adequate as it can cover 8.4 months’ worth of imports of goods and payments of services and primary income. It is also equivalent to 5.4 times the country’s short-term external debt based on original maturity and 3.7 times based on residual maturity.
Source: Bangko Sentral ng Pilipinas
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