Off the wire
• Refugee concession draws calls to raise New Zealand's "embarrassing" quota  • Hong Kong stocks close down  • China, ASEAN explores cooperation in e-commerce  • Mauritanian president to visit China  • China's forex reserves fall for fourth straight month in August  • Commentary: U.S. should abandon "wait-and-see" attitude towards EU refugee crisis  • China, Russia continue cross-border water quality monitoring  • WWII document exposes killing of "crying infant" by Japanese soldier  • Trading on Hong Kong Stock Exchange  • Major news items in leading German newspapers  
You are here: 　 Home

Philippine forex reserves slip to 80.26 bln USD in August

Xinhua, September 7, 2015 Adjust font size:

The Philippine gross international reserves slightly fell month-on-month to 80.26 billion U.S. dollars in August, the central bank said Monday.

Bangko Sentral ng Pilipinas (BSP), the local central bank governor Amando Tetangco Jr. said the August GIR's preliminary figure showed that it was lower by 0.07 billion U.S. dollars than the July level of 80.33 billion U.S. dollars.

This was due mainly to the BSP's foreign exchange operations and payments made by the national government (NG) for its maturing foreign exchange obligations, he said.

"These foreign exchange outflows were partially offset by the NG's net foreign currency deposits and the BSP's income from investments abroad as well as revaluation adjustments on its gold holdings and foreign currency-denominated reserves," he said.

Tetangco said the end-August GIR level remains ample as it can cover 10.5 months' worth of imports of goods and payments of services and income.

It is also equivalent to 6.4 times the country's short-term external debt based on original maturity and 4.5 times based on residual maturity, he added. Endi