Philippines gross foreign reserves $104.48 billion at end-May

June 10, 2024 - 10:02 AM
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Stock image of US dollars. (Image by Brett Hondow from Pixabay)

 The Philippines‘ gross foreign reserves PHFXR=ECI rose to $104.48 billion at the end of Mayfrom $102.65 billion a month earlier, the central bank said on Friday, citing preliminary data.

The reserves are 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 Neil Jerome Morales; Editing by Kevin Liffey