BSP’s June dollar reserve of $85.4B is highest in PH history | Inquirer Business

BSP’s June dollar reserve of $85.4B is highest in PH history

By: - Reporter / @daxinq
/ 04:38 PM July 05, 2019

Foreign currency inflow pushed the country’s dollar reserve higher in June – the highest level in the Philippines’ history – which bodes well for the strength of the peso and industries that buy raw and intermediate materials abroad.

Initial data show the country’s gross international reserve rose by $0.02 billion to $85.38 billion as of end-June 2019 from $85.36 billion as of end-May 2019, Bangko Sentral ng Pilipinas Governor Benjamin Diokno said on Friday (July 5).


Diokno attributed the reserve increase to the added value of the BSP’s “gold holdings resulting form the increase in the price of gold in the international market.”

The other factors for the increased reserve, he said, were the national government’s net foreign currency deposits, the BSP’s foreign exchange operations and its income from investments abroad.


The increase in reserve, however, was tempered by national government payments for foreign debts. (Editor: Tony Bergonia)

Read Next
Don't miss out on the latest news and information.

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Benjamin Diokno, BSP, Dollars, foreign currency, Foreign Exchange, gold, Investments, reserve
For feedback, complaints, or inquiries, contact us.

Curated business news

By providing an email address. I agree to the Terms of Use and
acknowledge that I have read the Privacy Policy.

© Copyright 1997-2022 | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.