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MANILA, Philippines–The Bangko Sentral ng Pilipinas’ foreign exchange stock outside its official gross international reserves fell by about $2 billion in June, as market jitters over rising consumer prices prompted more dollar selldown by the BSP to support the peso.

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MANILA, Philippines - The central bank”s holdings of foreign currencies through forward swaps have declined further as it has tried to shield the local currency from abrupt depreciation, yet the peso is still expected to weaken even more in the months ahead.

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THE CENTRAL bank’s holdings of foreign currencies through forward swaps have declined further as it has tried to shield the local currency from abrupt depreciation, yet the peso is still expected to weaken even more in the months ahead.

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THE Zimbabwe Iron and Steel Company (Ziscosteel) could have lost millions of dollars in foreign currency through clandestine overpricing by some suppliers of raw materials acting in cahoots with the firm’s officials.

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Mumbai, Aug 2 Foreign exchange reserves fell by a meagre $504 million, to touch $306.603 billion, during the week ended July 25, according to the Reserve Bank of India’s Weekly Statistical Supplement. This is the second consecutive week that the forex reserves have declined.

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