Foreign reserves rise

Friday, October 17, 2014

Foreign exchange reserves increased by P2.5 billion in the month of July from P75.2 billion to P77.7 billion.

In terms of US dollar, the reserves rose by $189 million to $8.8 billion while in SDR the reserves rose by SDR190 million to SDR5.7 billion. Based on changes in the reserves, adjusted for unrealised gains and losses, the balance of payments was in overall surplus by P2.9 billion in July. On a year to date basis, the cumulative surplus stood at P10.5 billion in July.

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