Hike in international reserves for the year eyed

MANILA, Philippines–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.

The forecast was earlier set at a range of $77.5 billion to $78 billion.