"As far as gold is concerned, there is a strategy. It's part of a whole portfolio strategy," Remolona told reporters on the sidelines of a forum at the Asian Development Bank on yesterday.
He also said that the value of BSP's gold holdings makes up around nine percent of the country's gross international reserves (GIR).
The BSP actively trades its gold holdings as part of its reserves management.
The BSP has been building up its GIR to ensure that it will not run out of foreign exchange that it could use in case of external shocks.
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Esta historia es de la edición September 26, 2024 de The Philippine Star.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
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