GIR grows to $81.5B in December 2017

 

By Rose de la Cruz

 

The country’s gross international reserves as of end December 2017 grew to $81.5 billion or an equivalent of 8.3 months’ worth of imports of goods and payments for services and primary income.

 

Governor Nestor Espenilla of the Bangko Sentral ng Pilipinas said the end December GIR is even more than the $80.3 billion recorded in the previous month and was due mainly to inflows from the BSP’s foreign exchange operations, net foreign currency deposits by the national government, the revaluation adjustments of BSP’s gold holdings resulting from the increased prices…

Read more: GIR grows to $81.5B in December 2017

BSP warns against tampering with legal tenders

 

 

 

The Bangko Sentral ng Pilipinas (BSP) is urging the public to stop vandalizing or tampering with Philippine peso bills that could cast doubt on the credibility of our legal tender.  Posting photos of alleged misprinted banknotes on social media causes confusion which may negatively affect commerce. 

 

The public is also advised to be vigilant against acts of those who wish to confuse, deceive or illegally profit from posting, producing and/or selling fake “misprinted” notes with no numismatic value. 

 

The BSP reiterates that alleged faceless/misprinted Philippine Peso Bill/s must immediately be brought to…

Read more: BSP warns against tampering with legal tenders

Personal Remittances climb to $25.7 Billion for 10 months of 2017

 

By Bianca Belacho

 

Personal remittances by overseas Filipinos (OFs) registered a 5.2 percent growth to reach $25.7 billion for the first ten months of 2017.

 

For October alone, personal remittances grew by 9.7 percent to $2.6 billion compared to $2.3 billion a year ago, BSP Governor Nestor A. ESPenilla, Ir. said.

 

Remittances from land-based OFs with work contracts of one year or more including other house-to-house transfers increased by 4.2 percent (at $19.8 billion) and those from sea-based and land- based OFs with work contracts less than a year increased by…

Read more: Personal Remittances climb to $25.7 Billion for 10 months of 2017

Manufacturing declines by 6.3% in October 2017

 

By Rose de la Cruz

The Philippine Statistics Authority’s Monthly Integrated Survey of Selected Industries (MISSI) reported a decline in the Volume of Production Index (VoPI) for manufacturing by 6.5 percent in October 2017, down from the 9.9 percent growth recorded in the same month last year.

Value of Production Index (VaPI) likewise dropped by 6.3 percent, leading to a three-month moving average of VoPI and VaPI decline by 2.9 and 3.2 percent, respectively.

“Efficiency in delivering business-related government services or ease of doing business still needs to be improved. Ideally, business procedures across…

Read more: Manufacturing declines by 6.3% in October 2017

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