Phl dollar reserves slip to $102.67 B

The country's foreign exchange buffer slipped to $102.67 billion in February, the second straight month of decline, acccording to the Bangko Sentral ng Pilipinas.

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The BSP said the country's gross international reserve (GIR) level dipped by 0.6 percent from $103.27 billion in January, but was 4.5 percent higher than the $98.22 billion recorded in February 2023.

"The month-on-month decrease in the GIR level reflected mainly the national government's payments of its foreign currency debt obligations," the central bank said.

Foreign currency deposits fell by 40.9 percent to $686.3 million in February from $1.16 billion in January. But it climbed by 31.9 percent from the $520.5 million seen in the same month in 2023.