MANILA, Feb. 8 (Xinhua) -- The Philippines' gross international reserves (GIR) settled at 103 billion U.S. dollars at the end of January from 106.3 billion dollars at the end of December 2024, the Philippine central bank has said.

The Bangko Sentral ng Pilipinas (BSP) said on Friday that the January GIR level represents a more than adequate external liquidity buffer equivalent to 7.3 months' worth of goods imports, services payments, and primary income.

The central bank added that the January GIR level is about 3.6 times the country's short-term external debt based on residual maturity.

"The month-on-month decrease in the GIR level reflected mainly the BSP's net foreign exchange operations and the drawdown on national government's deposits with the BSP to pay off its foreign currency debt obligations," the central bank said. Enditem

Related

Go to Forum >>0 Comment(s)