Gross international reserves dip in February: BSP


Posted at Mar 07 2018 05:13 PM

 MANILA - The Philippines' gross international reserves (GIR) fell in February, according to preliminary data released by the central bank on Wednesday. 

The Bangko Sentral ng Pilipinas said the country's GIR at the end of February dipped to $80.6 billion from $81.2 billion in January. 

This was due mainly to the central bank's foreign exchange operations, government payment of foreign debt, and the drop in the value of the central bank's gold holdings, the BSP said. 

The GIR level was equivalent to 8.2 months of imports and 5.9 times the country's short term foreign debt.