June GIR at Record 3-Year High

Gross international reserves hit a three-year high of $83.97 billion at the end of the first half of 2016. This is higher than the $82.93 billion in May; it is also the highest since January 2013’s $85.27 billion. The amount could cover 10.3 months’ worth of imports of goods as well as payments of income and services. The projected end-2016 level is $82.7 billion, higher than 2015’s $80.7 billion and enough to cover nine months’ worth of…

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