TODAY'S BUSINESS HEADLINES

DNL buying out minority shareholders of Chemrez 01-Sep-14, 7:55 AM | Krista Angela M. Montealegre, InterAksyon.com

Gov't debt payments decline at close of 1H 01-Sep-14, 7:46 AM | Rain Castro, InterAksyon.com

Infrastructure tops concerns of American companies doing business in PH 01-Sep-14, 7:32 AM | Chelsea Cruz, InterAksyon.com

Container yard use at Manila's ports returns near capacity amid overstaying cargo 01-Sep-14, 7:27 AM | Darwin G. Amojelar, InterAksyon.com

Profit taking seen to take hold of PH stock market this week 01-Sep-14, 7:11 AM | Krista Angela M. Montealegre, InterAksyon.com

End-September forex reserves climb to $81.9-B

InterAksyon.com means BUSINESS

MANILA - The country's foreign exchange reserves rose to $81.9 billion in the first nine months of the year, the Bangko Sentral ng Pilipinas said on Friday.

In a statement, the BSP said the country's gross international reserves at end-September climbed $1.2 billion from the $80.7 billion in the first eight months of the year.

At the end-September level, the GIR could cover 11.8 months of imports of goods and payments for services and income.

Alternatively, the nine-month reserves could allow the country to pay 11.7 times over its short-term external debt based on original maturity, and 6.5 times over if based on residual maturity. Residual maturity incorporates principal payment of medium- to long-term debt that is due in the next 12 months.

The BSP ascribed the buildup in the country's reserves to income from its forex operations and investments abroad, as well as from revaluation gains on the central bank's gold holdings.

OTHER BUSINESS STORIES
BREAKING NEWS