PH foreign reserves dip to 11-mth low

Jan 07, 2017 1:12 am

THE Philippines’ gross international reserves (GIR) dropped to their lowest level in 11 months in December and failed to hit the central bank’s forecast for the month, official data showed on Friday.

Analysts expect that this year, rising interest rates in the United States would put further pressure on the country’s foreign exchange reserves.

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