Preliminary data showed that the country’s gross international reserves (GIR) rose to $81.14 billion as of end-October 2015, Bangko Sentral ng Pilipinas (BSP) Governor Amando Tetangco announced Friday.
This was slightly higher by $0.59 billion than the end-September 2015 level of $80.55 billion due mainly to the National Government’s (NG) net foreign currency deposits, revaluation adjustments on the BSP’s gold holdings as well as its income from investments abroad.
These were partially offset by payments made by the NG for its maturing foreign exchange obligations.
The end-October 2015 GIR level remains ample as it can cover 10.4 months’ worth of imports of goods and payments of services and income.
It is also equivalent to 6.1 times the country’s short-term external debt based on original maturity and 4.4 times based on residual maturity. 2
Net international reserves (NIR), which refer to the difference between the BSP’s GIR and total short-term liabilities, increased by $0.59 billion to $81.13 billion as of end-October 2015, compared to the end-September 2015 NIR of $80.54 billion.
source: Malaya
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