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- June dollar reserves highest in PH history
- Saturday, July 6, 2019 5:04 am
- Foreign currency inflows pushed the country’s dollar reserves higher in June—their highest level in the Philippines’ history—a development that bodes well for the strength of the peso and industries that buy raw and intermediate materials from abroad.
- Preliminary data showed the country’s gross international reserves (GIR) rose by $0.02 billion to $85.38 billion as of end-June 2019 from $85.36 billion as of end-May 2019, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said on Friday ........... Full Story»
- Fitch: Banks to ride PHL’s ‘robust’ growth
- Friday, July 5, 2019 12:32 am
- THE PHILIPPINES’ “fairly robust” economic growth — though below official target so far — can be expected to generate profit and expansion opportunities for banks in the country, Fitch Ratings said on Thursday, adding that liquidity conditions will likely ease further due to central bank steps to loosen monetary policy in step with much of the world.
- Elaine Koh, director for Financial Institutions at Fitch Ratings, said in an e-mailed response to questions that the global debt watcher’s 2019 Philippine projection of “6.2% is still a fairly robust GDP (gross domestic product) growth rate and we expect this to help sustain growth and profit opportunities for banks.” ........... Full Story»