THE country's gross international reserves (GIR) rebounded in May to their highest level so far for the year, the Bangko Sentral ng Pilipinas (BSP) reported late Friday.

At $104.48 billion, GIR has more than recovered from April's $1.42-billion dip to $102.628 billion, which the central bank last month said was due to national government withdrawals that were used to pay for debts and expenditures.

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