MANILA, Philippines - The Bangko Sentral ng Pilipinas raised its foreign reserves forecast for the year.
From a previous estimate of $78 billion, the BSP now expects foreign reserves to reach $83 billion by year end.
BSP Governor Amando Tetangco says the foreign reserves forecast for next year is $86 billion.
Foreign reserves hit $82 billion at the end of October, due to huge inflows in foreign funds and remittances by overseas Filipino workers. - ANC