Philippines gross foreign reserves at $103.4 billion at end-April

May 8, 2024 - 9:17 AM
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Stock image of US dollars. (Image by Brett Hondow from Pixabay)

 The Philippines’ gross foreign reserves PHFXR=ECI dropped to $103.4 billion at the end of April, from $104.1 billion a month earlier, the central bank said on Tuesday, citing preliminary data.

The latest forex reserves were a more-than-adequate external liquidity buffer equivalent to 7.7 months worth of imports of goods and payments of services and primary income, it said in a statement.

— Reporting by Mikhail Flores; Editing by Martin Petty