Gov’t loans push PH dollar reserves to historic high in May

Gov’t loans push PH dollar reserves to historic high in May

The Philippines’ dollar reserves hit a historic high in May —at the peak of the COVID-19 lockdown—thanks to inflows from the government’s foreign borrowings, as well as foreign exchange earnings of the central bank. In a statement, the Bangko Sentral ng Pilipinas (BSP) said the country’s gross international reserves level, based on preliminary data, rose […]