FOREIGN debt payments, lower gold prices and the need to defend the peso led to a drop in the country's gross international reserves (GIR) last month, the Bangko Sentral ng Pilipinas (BSP) reported late Friday.
At $104.70 billion, GIR was $314.7 million lower than May's $105.02 billion — a rebound the central bank last month attributed to foreign currency deposits by the government.
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