Philippine Forex Reserves Hit All Time High
October 7, 2006 by cd
Ok for the news. Did you know that our gross international reserves inched up to $21.56 billion at the end of last month? This is an all-time high record according to the Central Bank which is caused by continuing foreign investments and the money remittances of our overseas workers are coming in. This means our peso will continue to strengthen, inflation will decrease, we can continue to pay our foreign debts, more import/export activities or in short, economic growth.
A little bad news nga lang sa mga kumikita ng dollars kasi bababa ang palit nito. But it’s all worth it naman.
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