The Central Bank of the Philippines released preliminary data showing gross international reserves (GIR) increased to USD 106.70 billion at end-February 2025 from USD 103.3 billion at end-January 2025. The GIR level was described as an external liquidity buffer equivalent to 7.5 months of imports of goods and payments of services and primary income and around 3.8 times short-term external debt on a residual maturity basis. The month-on-month increase mainly reflected higher national government net foreign currency deposits with the Bangko Sentral ng Pilipinas, including proceeds from the issuance of ROP Global Bonds, upward valuation adjustments to the central bank’s gold holdings due to higher international gold prices, and net income from the central bank’s foreign investments. Net international reserves rose by USD 3.4 billion to USD 106.6 billion from USD 103.2 billion over the same period.
Central Bank of the Philippines 2025-03-07
Central Bank of the Philippines reports gross international reserves rising to USD 106.7 billion at end-February 2025
The Central Bank of the Philippines reported an increase in gross international reserves to USD 106.70 billion at end-February 2025, up from USD 103.3 billion at end-January. This rise was attributed to higher national government net foreign currency deposits, valuation adjustments of gold holdings, and net income from foreign investments. The reserves serve as a liquidity buffer, covering 7.5 months of imports and 3.8 times short-term debt.