The Central Bank of the Philippines published preliminary data showing gross international reserves stood at USD 104.1 billion at end-April 2026. The reserve position was equivalent to 6.9 months of imports of goods and payments of services and primary income, and about 3.8 times the country’s short-term external debt based on residual maturity. The reserves consist of foreign-denominated securities, foreign exchange and other reserve assets, including gold. The central bank noted that this level exceeds conventional adequacy benchmarks of at least three months of import cover and 100 percent of short-term external debt falling due within the next 12 months, supporting foreign exchange availability for imports and debt service and providing a buffer against currency volatility and external shocks.
Central Bank of the Philippines 2026-05-07
Central Bank of the Philippines reports end-April gross international reserves at USD 104.1 billion covering 6.9 months of imports
The Central Bank of the Philippines reported preliminary gross international reserves of USD 104.1 billion at end-April 2026, equivalent to 6.9 months of imports and 3.8 times short-term external debt on a residual maturity basis. The reserve level, comprising foreign-denominated securities, foreign exchange, gold and other reserve assets, exceeds conventional adequacy benchmarks and is expected to support foreign exchange availability and provide a buffer against external shocks.