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PH gross international reserves rise to $105.65 billion in July

The facade of the Bangko Sentral ng Pilipinas on February 15, 2024. Jonathan Cellona, ABS-CBN News

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ABS-CBN News

MANILA - The Philippines&#x27; gross international reserves (GIR) increased to $105.65 billion by the end of July 2024, up from $105.19 billion at the end of June, according to preliminary data from the Bangko Sentral ng Pilipinas (BSP).The latest GIR level provides a robust external liquidity buffer, sufficient to cover 7.8 months&#x27; worth of imports and payments for services and primary income, the BSP said. It is also about 6.1 times the country’s short-term external debt based on original maturity and 3.8 times based on residual maturity, the central bank added.The month-on-month rise in GIR was attributed mainly to the upward valuation adjustments in the BSP&#x27;s gold holdings, reflecting higher international gold prices, net income from BSP&#x27;s overseas investments, and net foreign currency deposits by the National Government.Net international reserves, which is the difference between the BSP&#x27;s reserve assets and reserve liabilities, also increased by $0.46 billion to $105.62 billion from $105.16 billion in June.

The Philippines' gross international reserves (GIR) increased to $105.65 billion by the end of July 2024, up from $105.19 billion at the end of June.

The Philippines' gross international reserves (GIR) increased to $105.65 billion by the end of July 2024, up from $105.19 billion at the end of June.