Philippines’ gross foreign reserves decrease to $101.51 billion at end-April

May 8, 2023 - 9:24 AM
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U.S. One dollar banknotes are seen in front of displayed stock graph in this illustration taken, February 8, 2021. (Reuters/Dado Ruvic/Illustration/File Photo)

 The Philippines’ gross international reserves PHFXR=ECI fell slightly to $101.51 billion at the end of April, from $101.55 billion a month earlier, the central bank said on Friday, citing preliminary data.

The latest forex reserves represent a more than adequate external liquidity buffer equivalent to 7.6 months of imports of goods and payments of services and primary income, the central bank said in a statement.

—Reporting by Neil Jerome Morales