THE country’s gross international reserves (GIR) dropped anew to its lowest in six years in July, with the Bangko Sentral ng Pilipinas (BSP) attributing the drop to its foreign exchange operations, lower gold prices, and government debt payments.
Central bank data released on 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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