The Central Bank of the Philippines (Bangko Sentral ng Pilipinas, BSP) published preliminary data showing the Philippines’ gross international reserves (GIR) increased to USD 108.8 billion at end-September 2025 from USD 107.1 billion at end-August 2025. The rise was attributed to higher global gold prices, income from BSP investments, and foreign currency deposits by the national government with the BSP. The BSP noted that GIR comprise foreign-denominated securities, foreign exchange, and other assets including gold. The end-September GIR level was equivalent to 7.3 months’ worth of imports of goods and payments of services and primary income, and covered about 3.6 times the country’s short-term external debt on a residual maturity basis. Net international reserves also increased by USD 1.7 billion to USD 108.8 billion at end-September 2025.
Central Bank of the Philippines 2025-10-07
Central Bank of the Philippines reports September 2025 gross international reserves rise to USD 108.8 billion
The Central Bank of the Philippines reported an increase in the country's gross international reserves to USD 108.8 billion at end-September 2025, up from USD 107.1 billion in August, driven by higher global gold prices, BSP investment income, and foreign currency deposits by the national government. The reserves cover 7.3 months of imports and 3.6 times the short-term external debt. Net international reserves rose by USD 1.7 billion to USD 108.8 billion.