GIR hits 7-month high, closes 2018 at $78.5B

Jan 08, 2019 12:30 am

THE Philippines’ gross international reserves (GIR) rose to a seven-month high in December, ending the year at $78.460 billion, which the Bangko Sentral ng Pilipinas (BSP) traced to its foreign exchange operations, the government’s net foreign currency deposits and higher gold prices.

A man counts dollar remittances at a money changer in United Nations Avenue in Manila. PHOTO BY RUSSELL PALMA

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