{"id":101098,"date":"2017-05-06T03:18:18","date_gmt":"2017-05-06T07:18:18","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=101098"},"modified":"2017-05-06T03:18:18","modified_gmt":"2017-05-06T07:18:18","slug":"phl-foreign-reserves-rise-to-usd81-82b-in-april-17","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2017\/05\/06\/phl-foreign-reserves-rise-to-usd81-82b-in-april-17\/","title":{"rendered":"PHL foreign reserves rise to USD81.82B in April \u201817"},"content":{"rendered":"
\"The<\/a>
The Philippines\u2019 foreign exchange reserves rose to USD 81.82 billion in April 2017, which the central bank traced partly to its foreign exchange operations and the net foreign currency deposits by the national government. (Photo: Bangko Sentral ng Pilipinas\/ Facebook<\/a>)<\/figcaption><\/figure>\n

MANILA\u2014The Philippines\u2019 foreign exchange reserves rose to USD 81.82 billion in April 2017, which the central bank traced partly to its foreign exchange operations and the net foreign currency deposits by the national government.<\/p>\n

Data released by the Bangko Sentral ng Pilipinas (BSP) Friday showed that the gross international reserves (GIR) in the fourth month this year was higher than month-ago\u2019s USD80.9 billion, but lower than year-ago\u2019s USD83.74 billion.<\/p>\n

BSP Governor Amando Tetangco Jr., in a statement, said other factors that boosted the reserves included revaluation adjustment on the central bank\u2019s gold holdings after the rise of this commodity\u2019s price in the international market, and the gains from the central bank\u2019s investments overseas.<\/p>\n

He, however, said that the positive factors were countered by NG\u2019s payment of its foreign currency-denominated debt.<\/p>\n

The current GIR level is enough to cover nine months\u2019 worth of imports of goods and payment of services and primary income.<\/p>\n

During the same period, the net international reserves (NIR), which is the difference between the GIR and the central bank\u2019s short-term debt also registered a hike to USD81.8 billion from the previous month\u2019s USD80.99 billion.<\/p>\n

The country\u2019s GIR has generally been strong but posted fluctuations in recent months because of the impact of narrowing capital account and some capital outflows.<\/p>\n

Nomura Executive Director and Senior Economist for Southeast Asia Euben Paracuelles earlier told PNA that the decline in the country\u2019s GIR \u201cis not really surprising\u201d due to the rising importation on higher demand of the domestic economy.<\/p>\n

\u201cI think if it goes lower on a sustainable basis then it becomes a concern. But at the moment the buffers are still large,\u201d he said, citing that international standards calls for a GIR level of about three to four months\u2019 worth of imports.<\/p>\n","protected":false},"excerpt":{"rendered":"

MANILA\u2014The Philippines\u2019 foreign exchange reserves rose to USD 81.82 billion in April 2017, which the central bank traced partly to …<\/p>\n","protected":false},"author":33,"featured_media":99093,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[1216,18740],"class_list":["post-101098","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-bangko-sentral-ng-pilipinas","tag-philippines-foreign-exchange","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/101098","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=101098"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/101098\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/99093"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=101098"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=101098"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=101098"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}