MANILA  -The Philippines' gross international reserves (GIR) may have fluctuated slightly downward to settle at $99.8 billion at the end of August from $100 billion in July, as the government serviced its foreign debt, as usual, while the price of gold eased. 'The month-on-month decrease in the GIR level reflected mainly the national government's payments of its foreign currency debt obligations and the downward adjustments in the value of Bangko Sentral ng Pilipinas' (BSP) gold holdings due to the decrease in the price of gold in the international market,' the central bank said in a statement.

https://business.inquirer.net/419693/ph-dollar-reserves-dip-on-govt-debt-repayments

#inquirer