ABC Money
Home

Philippine end-Nov forex reserves drop on outflows but still above 2007 target


Published :
Fri, 07 Dec 2007 03:01
By : Agencies
Print this Story


AddThis Social Bookmark Button

MANILA (Thomson Financial) - The Philippines' gross international reserves (GIR) dropped to 32.46 billion US dollars at the end of November from 32.50 billion dollars a month earlier, the central bank said Friday.

The central bank attributed the decline to outflows arising from its foreign exchange operations and payments of maturing debt, including obligations of the government.

These outflows were partly offset by proceeds from the sale of the government's power assets, the central bank said.

The end-November GIR, which are more than the central bank's year-end target of 30 billion dollars, could cover 5.8 months of imports of goods and payments of services and income. They are equivalent to 5.5 times the country's short-term external debt based on original maturity and 3.3 times based on residual maturity.

enrico.delacruz@thomson.com

ed/jm

COPYRIGHT

Copyright Thomson Financial News Limited 2007. All rights reserved.

The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.




Share on


 You Might Like
Taiwan says inappropriate to use forex reserves to set up sovereign wealth fund
Japan's forex reserves rise to record 970.18 billion dollars in Nov
+
Italy October unit trust net outflow 7.2 bln vs outflow 6.456 bln in September

Comment on this Article
Comment:
Title:
Name:
Please Enter
 
Here
  

 Search News

 Look For
Business
Credit cards
Finance
Loans
Money
Mortgages

 
 Stock Quotes *
SYMBOL
LAST
CHANGE
DOW JONES
8280.74
-223.32 ( -2.63 %)
NASDAQ
1796.52
-49.20 ( -2.70 %)
FTSE 100
4236.28
+2.01 ( 0.05 %)

SYMBOL ( 2009-07-03 )
LAST
CHANGE
BRITISH AMERICAN TOBACCO ( 12:07pm )
1718.47
+33.47 ( 1.98 %)
NORTHERN ROCK ( 11:35am )
182.00
+19.04 ( 11.20 %)
REED ELSEVIER ( 11:35am )
457.25
+17.25 ( 3.89 %)
CARNIVAL ( 11:35am )
1625.00
+15.00 ( 0.93 %)
IMPERIAL TOBACCO ( 11:38am )
1579.21
+14.21 ( 0.91 %)

SYMBOL ( 2009-07-02 )
LAST
CHANGE
AMERICAN INTERNATIONAL GROUP INC ( 4:15pm )
18.25
+0.17 ( 0.95 %)
GENERAL MOTORS ( 3:39pm )
0.80
+0.05 ( 9.80 %)
CITIGROUP INC ( 4:17pm )
2.88
-0.09 ( -3.06 %)
COCA COLA CO ( 4:16pm )
48.88
-0.30 ( -0.62 %)
INTEL CP ( 4:00pm )
16.72
-0.32 ( -1.90 %)

SYMBOL ( 2009-07-02 )
LAST
CHANGE
ISRAMCO INC ( 4:00pm )
120.25
+5.26 ( 4.57 %)
NOBILITY HOMES INC ( 3:58pm )
11.44
+3.14 ( 38.06 %)
NOVATEL INC ( 3:26pm )
38.80
+2.76 ( 7.65 %)
COMM BANCORP INC ( 9:34am )
40.00
+2.75 ( 6.88 %)
VERTICALNET INC ( 1:22pm )
7.10
+2.14 ( 40.76 %)

Gainers & Losers
Dow Jones
Euro Stoxx 50
FTSE 100
FTSE 250
FTSE AIM
FTSE ALL
Nasdaq

 Portfolio Manager

You must log in to access this area of the site. If you are not a registered user click here to sign up for instant access!


 Finance Explained

Money making ideas

Save money

Money management
Savings accounts
Investing money
Share dealing
Stock broker
Forex currency trading
Pension plans
Functions of Money

(c) 2007 ABCmoney.co.uk, All Rights Reserved
*ABCMoney.co.uk does not guarantee the accuracy of any share prices or stock quotations displayed. These are not real time quotes; all are delayed by at least twenty minutes and are for information purposes only.