Reserves hit record high of $112B in Sept

THE country’s gross international reserves (GIR) hit a record high in September, data from the Bangko Sentral ng Pilipinas (BSP) showed on Monday.

At $112.0 billion, GIR surged from August’s $107.9 billion and was mainly the result of foreign currency deposits by the government, including proceeds from a global bond offering, and net income from the central bank’s investments abroad.