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NET income of the Bangko Sentral ng Pilipinas in the first 10 months declined 19 percent to P12.38 billion from P15.26 billion a year ago, pulled down by lower revenues and losses on foreign exchange fluctuation as the peso strengthened against the US dollar.
Data showed that revenues for the period fell 14 percent to P53.35 billion from P62.33 billion on year. Although interest income rose to P47.70 billion from P38.83 billion, miscellaneous income declined sharply to P5.65 billion from P23.50 billion in the same period last year.
The regulator also posted a net loss on foreign exchange fluctuations of P2.47 billion from net income of P3.83 billion on year.
Expenses, meanwhile, fell to P55.82 billion from P58.49 billion a year ago.