{"id":253608,"date":"2020-04-30T21:25:19","date_gmt":"2020-05-01T01:25:19","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=253608"},"modified":"2020-04-30T21:25:19","modified_gmt":"2020-05-01T01:25:19","slug":"ph-records-highest-ever-foreign-reserves-of-89b-in-march","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2020\/04\/30\/ph-records-highest-ever-foreign-reserves-of-89b-in-march\/","title":{"rendered":"PH records highest-ever foreign reserves of $89B in March"},"content":{"rendered":"<figure id=\"attachment_249984\" aria-describedby=\"caption-attachment-249984\" style=\"width: 1920px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2020\/03\/rolled-20-u-s-dollar-bill-164527.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-249984\" src=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2020\/03\/rolled-20-u-s-dollar-bill-164527.jpg\" alt=\"\" width=\"1920\" height=\"1280\" srcset=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2020\/03\/rolled-20-u-s-dollar-bill-164527.jpg 1920w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2020\/03\/rolled-20-u-s-dollar-bill-164527-300x200.jpg 300w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2020\/03\/rolled-20-u-s-dollar-bill-164527-768x512.jpg 768w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2020\/03\/rolled-20-u-s-dollar-bill-164527-1024x683.jpg 1024w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" \/><\/a><figcaption id=\"caption-attachment-249984\" class=\"wp-caption-text\">Data released by the central bank showed that the latest gross international reserves (GIR) figure is only preliminary, but this is already higher than the USD88.187 billion as of last February. (Pexels photo)<\/figcaption><\/figure>\n<div dir=\"auto\"><strong>MANILA<\/strong>\u00a0\u2013 The Bangko Sentral ng Pilipinas (BSP) on Thursday reported the country\u2019s highest foreign currency reserves amounting to USD88.995 billion as of March 2020.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Data released by the central bank showed that the latest gross international reserves (GIR) figure is only preliminary, but this is already higher than the USD88.187 billion as of last February.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">In a statement, BSP\u2019s Department of Economic Statistics (DES) said the final end of March GIR will be published as soon as the data becomes available.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">\u201cIn terms of the final data on GIR, the highest level recorded was as of end-February at USD88.2 billion,\u201d it said.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">GIR refers to all foreign assets that are available and controlled by the central bank to finance payment imbalances or manage the magnitude of such imbalances.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">The BSP\u2019s GIR target this year is USD86 billion.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">The BSP said the latest foreign reserves level of the country is enough to cover 7.9 months\u2019 worth of imports of goods and services and payments of primary income, higher than the international standard of three months\u2019 worth of cover.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">It traced the rise in the GIR level to gains from the central bank\u2019s foreign exchange operations and income from investments overseas, and the national government\u2019s foreign currency deposits with the central bank.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">It, however, said these inflows are partly countered by the national government payments of its foreign currency-denominated loans.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">During the same month, the country\u2019s net international reserves (NIR), which is the difference between the GIR and total short-term liabilities, increased to USD88.99 billion in March from the previous month\u2019s USD88.18 billion.<\/div>\n","protected":false},"excerpt":{"rendered":"<p>MANILA\u00a0\u2013 The Bangko Sentral ng Pilipinas (BSP) on Thursday reported the country\u2019s highest foreign currency reserves amounting to USD88.995 billion &hellip;<\/p>\n","protected":false},"author":44,"featured_media":249984,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-253608","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","mauthors-joann-villanueva","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/253608","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\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=253608"}],"version-history":[{"count":2,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/253608\/revisions"}],"predecessor-version":[{"id":253610,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/253608\/revisions\/253610"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/249984"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=253608"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=253608"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=253608"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}