MANILA (AFP) - The Philippines' forex reserves rose to a record $ 20.84 billion in March, boosted by the government's latest foreign borrowings, the central bank said Friday.
Foreign exchange operations and income from investments abroad also helped boost the reserves, which grew 1.2 percent from February's $ 20.59 billion.
The end-March level was adequate to cover about 4.3 months of imports of goods and payments of services and income, it said.
It was also equivalent to 3.3 times the country's short-term debt based on original maturity and 1.8 times based on residual maturity.
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