The country’s dollar reserves continued to decline in September, the third consecutive month of a below $100-billion gross international reserves (GIR) level for the country for this year. Know more:
THE country’s dollar reserves continued to decline in September, the third consecutive month of a below $100-billion gross international reserves level for the country for this year.
“The month-on-month decrease in the GIR level reflected mainly the National Government’s payments of its foreign currency debt obligations and downward adjustment in the value of the BSP’s gold holdings due to the decrease in the price of gold in the international market,” BSP said in a statement. Despite the decline, the BSP said the current 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.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
PHL raises $2B from latest global bonds issue - BusinessMirrorTHE Philippines tapped the international debt market and raised $2 billion from its latest offering, according to the Bureau of the Treasury (BTr). The BTr said the new 5- and 10.5-year tranches were priced at US Treasury plus 120 and 185 basis points (bps) with a coupon of 5.17 percent and 5.609 percent, respectively. This
Read more »
PHL underemployment worsens; 2.68 million jobless - BusinessMirrorDESPITE the unemployment rate slowing to 5.3 percent in August, the National Economic and Development Authority (Neda) believes much needs to be done to boost employment generation nationwide. On Thursday, the Philippine Statistics Authority (PSA) said the country’s unemployment rate in August was higher than the 5.2 percent posted in July but lower than the
Read more »
TikTok to entice consumers via ‘shoppertainment’ - BusinessMirrorMobile-first social video app TikTok is targeting to gain a foothold in Asia Pacific’s “shoppertainment” industry, which is seen to reach more than $1 trillion by 2025, its top executive said on Thursday. Currently pegged at $500 billion in total gross sales of the e-commerce space, the company is bullish on capturing a chunk of
Read more »
BSP urged to keep capson credit-card charges - BusinessMirrorA senior lawmaker has filed a House resolution “strongly urging” the Bangko Sentral ng Pilipinas (BSP) to retain the existing limits on credit card charges to help Filipino consumers cope with inflation, which has hit a 4-year high of 6.9 percent in September. In House Resolution 459, Makati City Rep. Luis N. Campos Jr. asked
Read more »
The death of the comentarista - BusinessMirrorThey were hard-hitting, their witty remarks laced with diatribe. They were irreverent, impolite, and brave. No one was spared: not the president of the land, not the pompous senators and congressmen, certainly not the mayors. The military was not within their radar because these individuals were dominating the radio airlanes in the ’50s and ’60s
Read more »
Government urged to privatize Edsa Busway System - BusinessMirrorSeveral private groups are urging the government to immediately implement the privatization of the EDSA Busway System to “finally” put an end to the daily struggle of thousands of commuters, according to the Management Association of the Philippines (MAP). “It is high time that the government and the private sector join hands to provide the
Read more »