MANILA, Philippines—The country’s dollar reserve level rose to another historic high in November pushed by the central bank’s earnings from its foreign exchange operations and foreign investments, the Bangko Sentral ng Pilipinas (BSP) said on Tuesday (Dec. 15).
In a statement, the BSP said the Philippines’ gross international reserves, based on preliminary data, rose by $710 million to $104.51 billion as of end-November 2020 from the end-October 2020 level of $103.80 billion.
“The latest [dollar reserve] level represents an adequate external liquidity buffer, which can help cushion the domestic economy against external shocks,” the BSP said. It added that this buffer is equivalen…
Keep on reading: PH dollar stash rises to another historic high of $104B in November