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Philippine c.bank to actively trade gold to manage gross reserves

Published 09/05/2020, 03:26 PM
Updated 09/05/2020, 03:30 PM
© Reuters.

MANILA, Sept 5 (Reuters) - The Philippine central bank will
actively trade gold to better manage the country's gross
international reserves (GIR), its governor said on Saturday.
Bangko Sentral ng Pilipinas Governor Benjamin Diokno said
the monetary authority plans to maintain an "optimal" ratio of
gold to the country's GIR, which studies say should be at 10%.
The bank "will always be opportunistic in its reserves
management," Diokno told reporters in a phone message.



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