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Economic Buzz: Philippine International Reserves Rose In October

capital market | Mumbai | February 12, 2014 21:43 IST

Economic Buzz: Philippine International Reserves Rose In October

The Philippines' gross international reserves increased for a fifth consecutive month to reach $82.09 billion in October from $82.03 billion at the end of September. The reserves rose to a fresh record high in October, due mainly to inflows from the foreign exchange operations and investment income, the central bank said Wednesday.

The level remains adequate to cover 11.9 months worth of imports of goods and payments of services and income, Bangko Sentral ng Pilipinas Officer-in-Charge Juan de Zuniga said. Net international reserves, which include revaluation of reserve assets, increased by $0.1 billion to $82.1 billion as of end-October.
 

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Economic Buzz: Philippine International Reserves Rose In October
Economic Buzz: Philippine International Reserves Rose In October
Economic Buzz: Philippine International Reserves Rose In October
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February 12, 2014 21:43 IST
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Mid-session commentary
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