MANILA Oct 7 The Philippine central bank
released on Friday preliminary data on gross international
reserves (GIR) at the end of September.
Sept Aug Jul Jun May Apr
GIR ($ bln) 85.899 85.792 85.506 85.284 82.927 83.736
(NOTE: Aug figure was revised)
- The rise in foreign exchange reserves was due mainly to
the central bank's foreign exchange operations, revaluation
adjustments in its gold holdings and foreign currency deposits
by the national government, it said in a statement.
- The central bank expects to end 2016 with reserves of
$84.8 billion, from $80.67 billion last year. For next year,
reserves are forecast to rise to $86.3 billion.
- The central bank expects the country to again have a
current account surplus in 2016 despite the risk of capital
outflows on higher interest rates in the United States.
- It raised its projection for the current account surplus
to $5.8 billion, from $5.7 billion seen earlier.
(Reporting by Karen Lema; Editing by Eric Meijer)