The country’s Gross International Reserves (GIR) as of end-May fell by $500 million to $101.3 billion from $101.8 billion, according to the Bangko Sentral ng Pilipinas (BSP). Know more:
THE country’s Gross International Reserves as of end-May fell by $500 million to $101.3 billion from $101.8 billion, according to the Bangko Sentral ng Pilipinas .
Likewise, the country’s latest GIR record was 2.22 percent lower than the $103.6 billion level registered in end-May last year, BSP data showed. The BSP said the latest GIR level represents a more-than-adequate external liquidity buffer equivalent to 7.6 months’ worth of imports of goods and payments of services and primary income.
Moreover, the country’s GIR is also about 5.9 times the country’s short-term external debt based on original maturity and 4.2 times based on residual maturity, according to the BSP.
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