End-May GIR plummets to $103.52B

By Mayvelin U. Caraballo

Jun 08, 2022 11:51 am

DUE to national government debt payments and decreased gold prices, the country's gross international reserves (GIR) plummeted to a 20-month low of $103.52 billion at the end of May.

The sum was 1.77 percent lower than the $105.40 billion reported at the end of April and 3.47 percent lower than the $107.25 billion reported a year earlier, according to preliminary numbers issued by the Bangko Sentral ng Pilipinas (BSP) on Tuesday night.

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