TODAY'S BUSINESS HEADLINES

BSP sees turnaround in BOP in 2H on higher capital inflows 22-Jul-14, 6:29 PM | Scarlet Venilia, InterAksyon.com

7Eleven Philippines sets aggressive expansion amid entry of new players 22-Jul-14, 5:44 PM | Krista Angela M. Montealegre, InterAksyon.com

NLEX-SLEX Connector Road project faces roadblock after DOJ requires Swiss challenge 22-Jul-14, 5:18 PM | Darwin G. Amojelar, InterAksyon.com

Luzon power supply up as 2 First Gen plants back online nearly a week after 'Glenda' 22-Jul-14, 11:09 AM | Euan Paulo C. Añonuevo, InterAksyon.com

Pure Foods hikes flour production as it gears up for ASEAN integration 22-Jul-14, 10:38 AM | Krista Angela M. Montealegre, InterAksyon

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