The Central Bank of the Philippines published preliminary data showing the Philippines’ gross international reserves (GIR) edged down in July 2025 to USD 105.7 billion from USD 106.0 billion at end-June, mainly reflecting lower global gold prices and the national government’s drawdowns on its foreign-currency deposits with the central bank to service external debt obligations. GIR comprise foreign-denominated securities, foreign exchange and other assets including gold, and the end-July level was equivalent to 7.2 months of imports of goods and payments of services and primary income and about 3.4 times short-term external debt based on residual maturity. Net international reserves also decreased by USD 0.3 billion to USD 105.7 billion.
Central Bank of the Philippines 2025-08-07
Central Bank of the Philippines reports July 2025 gross international reserves down to USD 105.7 billion
The Central Bank of the Philippines reported a decline in the country's gross international reserves to USD 105.7 billion in July 2025, down from USD 106.0 billion in June, due to lower global gold prices and government drawdowns for debt servicing. The reserves cover 7.2 months of imports and are 3.4 times the short-term external debt. Net international reserves also fell by USD 0.3 billion to USD 105.7 billion.