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Oct 7, 2017 @ 13:52

Dollar reserves dip to $81.3B in Sept. – BSP


Lower gold prices dragged the figure down for the month.

International reserves slipped to $81.3 billion in September from $81.7 billion in August, Bangko Sentral ng Pilipinas (BSP) Officer-in-Charge Maria Almasara Cyd N. Tuaño-Amador announced on Friday.

Amador attributed the decline to lower valuation of gold, which is one of the reserve buffers maintained by the central bank. Higher payments made by the national government for dollar loans also pushed the figure lower.

Still, the reserves can cover 8.5 months of imports, which remains healthy as far as the BSP is concerned.

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