MANILA, Aug. 7 (Xinhua) -- The Philippines' gross international reserves (GIR) slightly declined in July to 105.7 billion U.S. dollars from 106 billion dollars in June, the Philippine central bank said Thursday.
The Bangko Sentral ng Pilipinas (BSP) attributed the dip mainly to lower global gold prices and the national government's debt servicing.
The GIR is made up of foreign-denominated securities, foreign exchange, and other assets, including gold. The GIR helps a country finance its imports and foreign debt obligations, stabilize its currency, and provide a buffer against external economic shocks.
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.
Moreover, it covers about 3.4 times the country's short-term external debt based on residual maturity.
Similarly, the net international reserves decreased by 0.3 billion dollars from 106 billion dollars as of end-June 2025 to 105.7 billion dollars as of end-July 2025. ■
