Philippines’ dollar reserves slump to 16-month low at end-May

THE Philippines’ dollar reserves declined to its lowest level in over a year due to external debt payments, lower global gold prices and the central bank’s efforts to support the peso amid the Middle East war, the Bangko Sentral ng Pilipinas (BSP) said. The country’s gross international reserves (GIR) stood at $103.974 billion at end-May, […]