Philippines gross foreign reserves at $104.7 billion at end-June

July 10, 2024 - 5:18 PM
Bangko Sentral ng Pilipinas (Philstar file photo)

 The Philippines’ gross foreign reserves PHFXR=ECI dropped to $104.7 billion at the end of Junefrom $105.02 billion a month earlier, the central bank said on Fridayciting preliminary data.

The latest forex 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 Mikhail Flores; Editing by Andrew Heavens