The Central Bank of the Philippines published a preliminary gross international reserves level of USD 104.8 billion at end-June 2026 and said the stock remained adequate to meet the country’s foreign currency needs. The reserves could cover 6.8 months of imports of goods and payments of services and primary income, and about 3.7 times the country’s short-term external debt based on residual maturity. The increase in reserves was mainly driven by the national government’s net foreign currency deposits with the Bangko Sentral ng Pilipinas and the central bank’s net income from its investments abroad. These gains were partly offset by downward valuation adjustments linked mainly to changes in prices of the central bank’s gold holdings and foreign currency-denominated reserve assets, as well as national government drawdowns on its foreign currency deposits with the central bank for external debt service.
Central Bank of the Philippines2026-07-07
Central Bank of the Philippines reports end June gross international reserves of USD 104.8 billion
The Central Bank of the Philippines reported preliminary gross international reserves of USD 104.8 billion at end-June 2026, with the stock described as adequate. The reserves covered 6.8 months of imports and related payments and 3.7 times short-term external debt on a residual maturity basis. Higher government foreign currency deposits and investment income were partly offset by valuation losses and debt-service drawdowns.