'Gold sales part of BSP's investment strategy'
The Philippine Star|September 26, 2024
The sale of gold by the central bank in the first half was part of its active management strategy of the country's reserves, according to Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona.
EISHA TA-ASAN

"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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