Sign up | Log in



Home  >>   Daily News  >>   Philippines News  >>   Economy  >>   Philippine dollar reserves fall
NEWS UPDATES Asean Affairs     8  October  2011                       

Philippine dollar reserves fall

Related Stories

October 5, 2011
Philippines credit gets reviewed

October 3,2011
Philippines growth target ruled out

August 22, 2011
 Indonesia closes tin tax loopholes

August 2, 2011
Indonesia could lower palm oil tax

July 1, 2011
First Malaysian palm oil refinery in Indonesia

June 27, 2011
Indo government puts controls on sugar

The Philippines' dollar reserves fell at end-September, the Bangko Sentral ng Pilipinas (BSP) said on Friday.

In a statement, the BSP said preliminary data showed that the country's gross international reserves reached US$75.63 billion in the first nine months of the year, down 39 percent from $75.94 billion in the first eight months.

Year-on-year, the GIR, however, grew by 40.71 percent from $53.75 billion at end-September last year.

The central bank attributed the month-to-month decline on the government's debt payments of and revaluation losses on the BSP's gold holdings amid a decline in the price of gold in the international market.

Gold holdings of the BSP went down by 1.28 percent to $7.45 billion at end-September from $7.55 billion at end-August.

However, these outflows were partly offset by inflows from the foreign exchange operations and income from investments abroad of the BSP, as well as the foreign currency deposits of the government arising from proceeds of a program loan from the Asian Development Bank.

Foreign exchange operations of the central bank grew by 52.65 percent to reach $466.28 million at end-September from $305.45 million a year ago and by 36.01 percent from $342.82 million at end-August.

The preliminary reserves data could cover 11.1 months worth of imports of goods and payments of services and income, the BSP said.

It added that the GIR was also equivalent to 10.6 times the country's short-term external debt based on original maturity and 6.3 times based on residual maturity, or outstanding external debt with original maturity of one year or less, plus principal payments on medium- and long-term loans of the public and private sectors falling due within the next 12 months.

Net international reserves, which include revaluation of reserve assets, declined by $300 million to reach $75.6 billion at end-September from $75.9 billion at end-August.

NIR refers to the difference between the central bank's GIR and total short-term liabilities.

The BSP holds international reserves for the foreign exchange requirements of the country in case the domestic commercial banks' supply of the greenback and other convertible currencies falls short of demand.

The foreign assets that the BSP hold are mostly in the form of investments in foreign-issued securities, monetary gold and foreign exchange, of which 13 percent is in US dollars.

Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
  Online Ad Rates

Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below




1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Today's  Stories    8  October  2011 Subsribe Now !
• Indonesian car market booms Subcribe: Asean Affairs Global Magazine
• Indonesia rebrands as global force Asean Affairs Premium

• Mosque bomber suspect arrested

Research Reports
on Thailand 2007-2008

•Textiles and Garments Industry

•Coffee industry

•Leather and footwear industry

•Shrimp industry

• Razak: Malaysia ready for "next phase"
• Myanmar VP to China on dam dispute
• Philippine dollar reserves fall
• Floods reaching Bangkok
 • Thailand's rice support program starts  pp

Asean Analysis              7  October  2011

Advertise Your Brand
• Tsunami warning is tested Sponsor Our Events

Asean Stock Watch      October  2011

• Asean Stock Watch-October 7 p

ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent

• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore
• Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline
• Vietnamese PM projects 10-year socioeconomic plan


This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More


Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

Our Products | Work with us | Terms of Use | Site Map | Privacy Policy | Refund Policy | Shipping/Delivery Policy | DISCLAIMER |

Version 5.0
Copyright © 2007-2015 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand