GIR inches up by end-July on higher gold prices

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The story "GIR inches up by end-July on higher gold prices" was covered 10 hours ago by Business Mirror, a news publisher based in Philippines.

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GIR inches up by end-July on higher gold prices - Business Mirror

Quick Summary:

HIGH gold prices boosted the country’s Gross International Reserves (GIR) in the period ending July 2024, according to the Bangko Sentral ng Pilipinas (BSP).

Nonetheless, BSP noted that the latest GIR level represented a more than adequate external liquidity buffer equivalent to 7.8 months’ worth of imports of goods and payments of services and primary income.

Per the central bank, GIR is deemed adequate if it can finance at least three-months’ worth of the country’s imports of goods and payments of services and primary income.