Philippines' dollar reserves fall below BSP forecast in 2021Foreign reserves are assets held mostly as investments in foreign-issued securities, gold as well as foreign currencies like dollar and euro. Being the lender of last resort, the BSP manages reserves as a stand-by fund to help the economy stay afloat in times of external shocks. MANILA, Philippines — Dollar reserves continued their climb in December as the national government's foreign currency deposits pushed levels up, but the year-end figure missed the Bangko Sentral ng Pilipinas' projection. What’s newGross international reserves amounted to $108.9 billion as of December 2021, inching up 1.1% month-on-month, the central bank reported on Thursday. Why this mattersForeign reserves are built mostly of investments in gold and foreign currency that could protect the Philippine economy from external shocks.

Source: Philippine Star January 14, 2022 05:19 UTC