The Philippines’ foreign exchange buffers climbed to a fresh record in February, as surge in the valuation of gold holdings outweighed the retreat in foreign investments amid escalating geopolitical tensions in the Middle East.
According to data from the Bangko Sentral ng Pilipinas (BSP), gross international reserves (GIR) rose $105 million to $112.720 billion as of the end of February from the previous month.
The last figure was the fifth monthly increase in the last half-year and narrowly eclipses the previous peak of $112.70
Continue Reading on Manila Bulletin
This preview shows approximately 15% of the article. Read the full story on the publisher's website to support quality journalism.