philippine forex reserves fall to 2year low in october
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Philippine forex reserves fall to 2-year low in October

Arab Today, arab today

Arab Today, arab today Philippine forex reserves fall to 2-year low in October

US dollar
Manila - XINHUA

The Philippines' gross international reserves (GIR) fell to its lowest level in October due to revaluation adjustments on the local central bank's gold holdings.
Data released by the Bangko Sentral ng Pilipinas (Philippine central bank or BSP) on Friday showed that the October GIR level slid to 79.29 billion U.S. dollars in October from the 79.55 billion U.S. dollars recorded in September. This is the lowest level recorded since June 2012 when the country's foreign exchange reserves hit 76.13 billion U.S. dollars.
"The decrease in reserves was due mainly to revaluation adjustments in the BSP's gold holdings and payments for maturing foreign exchange obligations of the national government," the BSP said in a statement.
The local central bank said these outflows were partially offset by net foreign currency deposits done by the National Treasury, earnings from the central bank's investments abroad, revaluation adjustments on the BSP's foreign currency-denominated reserves.
Despite the decline in the October figure, the BSP said the GIR level remains ample as it can cover 10.8 months' worth of imports of goods and payments of services and income.
It is also equivalent to 8.2 times the country's short-term external debt based on original maturity and 6 times based on residual maturity.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

philippine forex reserves fall to 2year low in october philippine forex reserves fall to 2year low in october

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

philippine forex reserves fall to 2year low in october philippine forex reserves fall to 2year low in october

 



GMT 12:48 2016 Sunday ,27 November

Cilic, Dodig push Croatia to brink of Davis Cup

GMT 05:24 2017 Thursday ,28 December

Erdogan says 'terrorist' Assad cannot be part of Syria

GMT 12:59 2016 Saturday ,05 November

WB welcomes economic reforms in Egypt

GMT 18:40 2016 Saturday ,05 November

Egyptian GDRs in London down

GMT 10:57 2017 Wednesday ,06 December

Peru striker Guerrero has doping ban extended

GMT 17:51 2017 Tuesday ,07 March

Trump Signs New Travel Ban on Six Muslim Countries

GMT 10:30 2017 Wednesday ,06 September

Saudi Information Ministry praises media role during Hajj

GMT 15:29 2017 Tuesday ,24 January

Mind games really do help your brain

GMT 06:55 2015 Thursday ,01 October

Boston Red Sox beat Yankees

GMT 08:17 2017 Monday ,28 August

Bahrain celebrates World Humanitarian Day 2017

GMT 02:07 2017 Tuesday ,28 February

Opposition seeks Russian support at Syria talks
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday