PHL end-December dollar reserves drop to $106.8B

THE PHILIPPINES’ gross international reserves (GIR) inched lower at end-December, falling short of the central bank’s full-year projection. Preliminary data released by the Bangko Sentral ng Pilipinas (BSP) on Tuesday showed reserves stood at $106.84 billion, down by 1.5% from $108.49 billion at end-November. Year on year, dollar reserves rose by 3% from $103.75 billion