Philippines’ forex reserves at $93.95 billion at end-November

December 8, 2022 - 9:24 AM
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File photo of foreign exchange. (The STAR/KJ Rosales)

 The Philippines’ gross international reserves PHFXR=ECIdropped to $93.95 billion at end-November, from $94.03 billion a month earlier, the central bank said on Wednesday, citing preliminary data.

The latest forex reserves represent a more-than-adequate external liquidity buffer equivalent to 7.5 months worth of imports of goods and payments of services and primary income, it said in a statement.

—Reporting by Neil Jerome Morales