July 2017 GIR Down to $80.787 Billion

Gross international reserves (GIR) went down to $80.787 billion in July from the $81.321 billion recorded in June. It is also lower than the $85.506 billion posted in July last year. The decline was attributed to outflows arising from payments made by the national government for its maturing foreign exchange obligations, as well as the Bangko Sentral ng Pilipinas’ (BSP) foreign exchange operations. The BSP sometimes uses reserve funds…

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