THE country’s gross international reserves (GIR) dropped to a new six-year low in July, with the Bangko Sentral ng Pilipinas (BSP) attributing the result to its foreign exchange operations, lower gold prices, and government debt payments.
Central bank data released Tuesday night showed the Philippines’ foreign exchange reserves at $76.891 billion, down 0.8 percent from June and also lower compared to the $81.065 billion recorded a year earlier.
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