PH foreign reserves hit $105.323 billion in June

Philippine foreign reserves posted a rebound in June as the national government increased its deposits with the Bangko Sentral ng Pilipinas (BSP) and income from the central bank’s investments, data released on Monday showed.

Preliminary data show that the gross international reserves (GIR)—a measure of the ability to settle import payments and service foreign debt—stood at $105.323 billion as of end-June, up from $105.176 billion in May, and $105.188 billion at end-June 2024.

“The latest GIR level provides a robust external liquidity buffer, equivalent to 7.2 months’ worth of imports of goods and payments of services and primary income,” the BSP said in an accompanying statement.

The latest level covers some 3.3 times of the country’s short-term external debt based on residual maturity.

Meanwhile, net international reserves or the difference between the reserve assets and reserve liabilities, increased by $0.3 billion to $105.3 billion from $105.0 billion. — BM, GMA Integrated News