Gross International Reserves Up to $83.51 Billion in May

Gross international reserves hit $83.51 billion for May, higher than the $80.405 billion posted in the same month last year, but lower than the upward-revised $83.736 billion last April. The decrease was due to lower gold prices in the international market and payments made to settle maturing foreign currency debt. The level is sufficient to cover 10.4 months’ worth of import of goods and services…

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