Philippines’ Foreign Reserves Likely to Rise to $79 Billion

Dec. 21 (Bloomberg) -- The Philippines’ foreign-currency reserves will probably rise to $79 billion in 2012, central bank Governor Amando Tetangco told a group of foreign media today in Manila. The peso moves in tandem with the region, he said. Financial markets are focusing on the nation’s economic policies, largely ignoring political issues, Tetangco said.

--With assistance from Cecilia Yap in Manila.

To contact the reporter on this story: Max Estayo in Manila at mestayo@bloomberg.net

To contact the editor responsible for this story: Clarissa Batino at cbatino@bloomberg.net