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Reserves adequate, says BSP

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Monetary authorities still have enough resources to combat volatility in financial markets that could lead to wild swings in the peso’s value, despite the sharp drop last month in the country’s dollar reserves.

Posted: February 9th, 2014 in Headlines | Read More »

PH forex reserves hit 10-month high in Nov

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The country’s dollar reserves shot up to a 10-month high in November, now enough to cover a year’s worth of imports and pay for the economy’s short-term external debt many times over.

Posted: December 6th, 2013 in Headlines | Read More »

Forex reserves hit 4-month high at $83.2B

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FILE PHOTO

The country’s foreign exchange reserves reached a four-month high of $83.2 billion in August, ensuring that the country has a sufficient buffer to keep the economy afloat in case of a potential shortage of income from abroad.

Posted: September 6th, 2013 in Editor's Pick,Headlines | Read More »

BSP reports $960M BOP deficit for February

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AFP FILE PHOTO

The country’s balance of payments (BOP) registered a $960-million deficit in February as dollar outflows from the settlement of debts to foreign creditors exceeded inflows.

Posted: March 20th, 2013 in Latest Business Stories | Read More »

PH needs to continue growing GIR, research says

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Most foreign portfolio investors divested their Philippine interests last month, letting go of holdings of listed shares, government IOUs and time deposits, and took their cash back to the United States. AFP FILE PHOTO

Despite the increases in the country’s foreign exchange reserves in the past several years, the current level and the recent rate of growth may not still be good enough in the “new normal” global economy that requires an aggressive build-up of war chest against the volatility of foreign capital flows, a research from Bank of the Philippine Islands suggested.

Posted: February 25th, 2013 in Latest Business Stories | Read More »

Forex reserves end 2012 at all-time high of $84.25B

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AFP FILE PHOTO

The country’s foreign exchange reserves hit an all-time high of $84.25 billion at the close of 2012, buoyed by the central bank’s dollar purchases that were meant to temper what could have been a sharp appreciation of the peso.

Posted: January 7th, 2013 in Editor's Pick,Headlines,Photos & Videos | Read More »

BSP sees no danger in forex buildup

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The Bangko Sentral ng Pilipinas sees no danger in allowing the country to further build up its foreign exchange reserves, now at a record $84 billion.

Posted: January 3rd, 2013 in Editor's Pick,Headlines | Read More »

Forex reserves climb to $82.09B

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AFP FILE PHOTO

The country’s foreign exchange reserves hit a new record high in October, fueled largely by the central bank’s dollar purchases to help temper the appreciation of the peso.

Posted: November 8th, 2012 in Editor's Pick,Featured Gallery,Headlines,Photos & Videos | Read More »

Santiago urges government to borrow money locally

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santiago--senate

Senator Miriam Defensor Santiago has advised the government to borrow money locally instead of from other countries, saying that borrowing from foreign sources has a negative effect to Overseas Filipino Workers (OFWs).

Posted: September 28th, 2012 in Latest Business Stories | Read More »

Hike in international reserves for the year eyed

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FILE PHOTO

The Bangko Sentral ng Pilipinas is expected to raise its forecast on gross international reserves for the year after these have already exceeded $80 billion in August, BSP Governor Amando Tetangco Jr. said during the economic briefing by the Philippine government’s economic team at the Philippine International Convention Center on Monday.

Posted: September 17th, 2012 in Latest Business Stories | Read More »

Forex reserves seen hitting new high

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The Philippines’ reserves of foreign currencies, which indicate the country’s ability to pay for imports and service debts to foreign creditors, are seen to have reached a new high of between $78 billion and $79 billion as of the end of July.

Posted: August 2nd, 2012 in Headlines | Read More »

BSP lowers BOP, reserves forecasts

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Most foreign portfolio investors divested their Philippine interests last month, letting go of holdings of listed shares, government IOUs and time deposits, and took their cash back to the United States. AFP FILE PHOTO

The Bangko Sentral ng Pilipinas has cut its forecast on the country’s reserves of dollars and other foreign currencies for 2012, citing the adverse impact of the ongoing crisis in the eurozone on investment appetite of foreign fund owners.

Posted: June 19th, 2012 in Editor's Pick,Headlines | Read More »

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