MANILA — The Philippines’ gross foreign reserves PHFXR=ECIrose to $105.65 billion at the end of July from $105.2 billion a month earlier, the central bank said on Wednesday, citing preliminary data.
The central bank said the level of forex reserves was a more-than-adequate external liquidity buffer equivalent to 7.8 months worth of imports of goods and payments of services and primary income.
—Reporting by Mikhail Flores; Editing by John Mair
