Central Bank of the Philippines reports reserves of USD 103.4 billion at end-July 2026

The Central Bank of the Philippines reported preliminary gross international reserves of USD 103.4 billion at end-July 2026, a level it assessed as adequate to meet import and external debt needs and provide a buffer against external shocks. The reserves covered 6.7 months of imports and payments for services and primary income, and about 3.6 times short-term external debt based on residual maturity. The decrease in reserves mainly reflected the central bank’s net foreign exchange operations and the national government’s drawdowns and net withdrawals from its foreign currency deposits for external debt servicing and other purposes. Higher gold valuations and net income from overseas investments partly offset the decline.