Philippines gross international reserves hit record high in August

MANILA (Xinhua): The Philippines' gross international reserves (GIR) level rose by US$350 million to $98.95 billion as of end-August from the end-July level of $98.6 billion, the Philippine central bank has said.

The Bangko Sentral ng Pilipinas (BSP) said on Wednesday (Sept 16) the month-on-month increase in the GIR level reflected inflows mainly from the BSP's foreign exchange operations and income from its investments abroad.