PH forex reserves hit new high in January
By Michelle V. Remo
The country’s foreign exchange reserves hit another record high, partly fueled by the Bangko Sentral ng Pilipinas’ efforts to temper the peso’s appreciation by buying dollars.
The country’s foreign exchange reserves hit another record high, partly fueled by the Bangko Sentral ng Pilipinas’ efforts to temper the peso’s appreciation by buying dollars.
The country’s balance of payments (BOP) posted a surplus of $2.72 billion in August, the highest in eight months, as remittances, foreign portfolio investments and other inflows of foreign currencies remained robust. A report from the Bangko Sentral ng Pilipinas showed that the latest BOP surplus was up more than 18 times from only $151 [...]
The Bangko Sentral ng Pilipinas has found it prudent to diversify the instruments where it invests the country’s nearly $70 billion in foreign exchange reserves given the US debt problem. The bulk of the country’s gross international reserves (GIR) are invested in US treasuries. BSP Governor Amando Tetangco Jr. said the central bank was considering [...]
The Bangko Sentral ng Pilipinas on Thursday raised the reserve requirement for banks and quasi-banks by another percentage point, citing the need to curb inflationary pressures stemming from inflows of foreign hot money. The move brings the reserve requirement, the proportion of deposits that banks and quasi-banks must keep with the BSP as reserves, at [...]
The country’s gross international reserves climbed further to a record $68.8 billion in May, the Bangko Sentral ng Pilipinas said Tuesday. BSP Governor Amando M. Tetangco Jr. said the figure was $300 million higher than the previous month’s $68.5 billion. Tetangco said the sustained increase in the country’s reserves was mainly due to the BSP’s [...]
