Forex reserves climb to $96 billion in DecemberLast month’s gross international reserves (GIR) were higher than the lowered $93 billion projection of the Bangko Sentral ng Pilipinas (BSP) for 2022. Last month’s gross international reserves (GIR) were higher than the lowered $93 billion projection of the Bangko Sentral ng Pilipinas (BSP) for 2022. It was also the highest since the $97.44 billion in August as the buffer increased over the past three months after declining to $93 billion in September. After hitting an all-time high of $110.12 billion in 2020, the forex buffer steadily declined to $108.79 billion in 2021 and $96.01 billion in 2022. The BSP now expects the GIR to settle at $93 billion instead of $100 billion this year.
