The Philippines’ gross international reserves (GIR) dropped its lowest level in two years in November, with the Bangko Sentral ng Pilipinas (BSP) tracing the fall to lower gold prices and the national government’s foreign debt payments.
Central bank data released on Thursday showed the country’s foreign exchange reserves at $80.31 billion for the month, down 0.13 percent from October. A year earlier it was at $81.45 billion.
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