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Dollar reserves inch up to $105.9B
The Philippines' gross international reserves (GIR) increased to $105.9 billion in August, driven by higher global gold prices and earnings from the Bangko Sentral ng Pilipinas (BSP)'s foreign investments.
This marks a 0.5 percent rise from the $105.4 billion recorded at the end of July.
The country's foreign exchange buffer is comprised of foreign exchange, foreign-denominated securities, and gold holdings.
Foreign exchange holdings saw an increase of 8.3 percent, while the value of the BSP's gold holdings rose by 5.4 percent.
Despite the overall increase in GIR, the BSP's foreign investments experienced a slight decrease of 0.4 percent in August compared to the previous month.
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