Business & Finance
Philippines to continue investing in US Treasuries
MANILA : The Philippines will continue to invest in US Treasuries as part of its foreign reserve management despite th
MANILA: The Philippines will continue to invest in US Treasuries as part of its foreign reserve management despite the credit rating downgrade by Standard & Poor's of US debt, adding the bonds are still considered by many a safe haven due to their depth and liquidity, the central bank governor said on Saturday.
"For the BSP (Bangko Sentral ng Pilipinas), US treasuries will continue to be within the allowable investible universe for our reserves, even with the one notch downgrade by S&P," Amando Tetangco said in an email to reporters.
"Many still see the US treasury market as a safe haven."
"Dips in the value of US treasuries would be compensated for by (our) earlier diversification moves," he said.
Copyright Reuters, 2011
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