March Reserves Down to $80.87 Billion

Gross international reserves (GIR) amounted to $80.87 billion in March, $562.9 million lower than the revised $81.44 billion recorded in February. This was due to outflows arising from the BSP’s foreign exchange operations and the payments made by the national government for maturing foreign exchange obligations. The amount was also $2.1 billion lower than the $81.98 billion recorded in March last year. It could cover 8.9…

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