PH dollar reserves hit 30-month high
Credit to Author: The Manila Times| Date: Tue, 07 May 2019 08:23:01 +0000
THE country’s dollar reserves rose to a 30-month high of $83.955 billion in April on the back of the central bank’s foreign exchange operations and investment income plus foreign currency deposits by the government.
The figure — the largest since October 2016’s $85.105 billion — was also 0.40 percent and 5.4 percent higher, respectively, from March and a year ago, preliminary data released on Tuesday showed.
The month-on-month increase was due “mainly to inflows arising from the BSP’s foreign exchange operations, national government’s net foreign currency deposits and BSP’s income from its investments abroad,” the central bank said in a statement.
These were partially tempered by national government payments for foreign exchange obligations, as well as revaluation losses from the BSP’s gold holdings as global prices of the metal fell. MAYVELIN U. CARABALLO
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