Philippines forex reserves hit record high at US$103 bil on central bank gold trading, foreign loans

MANILA, Nov 16 (The Philippine Inquirer/ANN) - The Philippines' dollar reserves rose to their highest level in history for the 13th consecutive month at the end of October due to the central bank’s currency market operations and the national government’s foreign loans.

In a statement, the Bangko Sentral ng Pilipinas (BSP) said its gross international reserves, based on preliminary data, rose by $2.27 billion to $103.81 billion as of end-October 2020 from the previous month’s $100.44 billion.