RP reserves reach $12.05b

Fri, 07 Mar 1997, 00:00 WIB | Source: AFP

MANILA (AFP): Central Bank of the Philippines governor Gabriel
Singson yesterday announced gross international reserves (GIR)
peaked at US$12.05 billion the previous day.

"Given the current state of investor confidence on the
Philippines, the targeted end-year GIR level of 14 billion
dollars projected.....will certainly be achieved within a shorter
time frame," Singson said.

The Central Bank noted average volume of trading in the
Philippine dealing system reached $175.7 million a day, compared
to 110 million dollars for the whole of 1996.

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