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× PH dollar reserves slump to 7-year low

The Philippines' dollar reserves fell to an over seven-year low of $74.77 billion in October after the government settled more foreign exchange obligations, the Bangko Sentral ng Pilipinas (BSP) said Wednesday.


The country's gross international reserves (GIR) declined from $74.94 billion at end-September. The October figure was also the lowest since the $71.88 billion in July 2011.