The country`s gross international reserves (GIR) reached US$80.4 billion as of end of July. This marks a decline by US$0.2 billion from the end of June 2015. This level is also lower compared to that of the same period of 2014, at US$80.6 billion. Nevertheless, the GIR remains ample as it can cover 10.6 months` worth of imports of goods and payments of services and income. Source: Bangko Sentral ng Pilipinas (BSP)
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The average peso-dollar exchange rate further went up to 45.2649 in July, from 44.9831 in June. This is higher compared to 43.467 in the same period last year. This marks the third consecutive month where the monthly average is rising. Source: Bangko Sentral ng Pilipinas (BSP)
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