MANILA, Philippines—The Philippines’ dollar inflow entered positive territory in April, rising with the help of the national government’s borrowings and an increase in gold prices, according to the Bangko Sentral ng Pilipinas (BSP).
In a statement, the BSP said its gross international reserve level, based on preliminary data, rose by $2.77 billion to $107.25 billion at the end of April from the end-March 2021 level of $104.48 billion.
“The latest gross international reserve level represents a more than adequate external liquidity buffer, which can help cushion the domestic economy against external shocks,” it said, adding that this buffer is equivalent to 12.3 months’ worth of im…
Keep on reading: PH dollar stash rises again in April, ends 3-month slide