PH reserves rise to $101.1B in Oct

Nov 09, 2023 12:43 am

THE country's gross international reserves (GIR) rose to $101.1 billion in October, the Bangko Sentral ng Pilipinas (BSP) reported late on Wednesday, up from $98.1 billion a month earlier.

The surge was mainly due to national government foreign currency deposits, the central bank said in a statement. This includes money from the sale of retail onshore dollar bonds, a rise in the value of BSP's gold reserves due to higher global gold prices, and the BSP's foreign exchange activities and income from overseas investments.

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