GIR $62.3 B in 2010

The country’s gross international reserves (GIR) reached $62.3 B at end-December 2010. After a big jump from October level of $57 B to $61.3 in November 2010, or an increase of $4.2 B in one month, the increase has tapered to only $1 B in December 2010.

Some analysts observed that it was a result of the central bank unloading some of its forex reserves last December to prevent the peso from further appreciating. Nonetheless, the $62.3 B year end level is still high.

GIR as of January 2011 has rose to $63.2 B. See the related news report here.

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