MANILA — The Philippines’ gross foreign reserves PHFXR=ECI dropped to $106.8 billion at the end of December, from $108.5 billion a month earlier, the central bank said on Tuesday, citing preliminary data.
The latest forex reserves 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 Mikhail Flores; Editing by Martin Petty
