The Central Bank of the Philippines published preliminary reserve data showing gross international reserves (GIR) of USD 106.2 billion at end-March 2025, down from USD 107.4 billion at end-February 2025. Net international reserves decreased by USD 1.2 billion to USD 106.2 billion over the same period. The end-March GIR was equivalent to 7.3 months’ worth of imports of goods and payments of services and primary income and covered about 3.7 times the country’s short-term external debt on a residual maturity basis. The month-on-month decline mainly reflected drawdowns by the national government on its foreign currency deposits with the central bank to meet external debt obligations and the central bank’s net foreign exchange operations.
Central Bank of the Philippines 2025-04-07
Central Bank of the Philippines reports gross international reserves eased to USD 106.2 billion at end-March 2025
The Central Bank of the Philippines reported a decrease in gross international reserves to USD 106.2 billion at end-March 2025, down from USD 107.4 billion in February. This decline was attributed to national government drawdowns on foreign currency deposits and the central bank's net foreign exchange operations. The reserves covered 7.3 months of imports and 3.7 times the short-term external debt.