The Bangko Sentral ng Pilipinas (BSP) said Thursday its gross international reserves (GIR) slightly dropped to $105.7 billion in July 2025 from the $106.0 billion in June.
This was due to lower global gold prices and reduced foreign currency deposits of the national government with the central bank to service external debt obligations, it said in a statement.
Net international reserves also decreased to $105.7 billion as of end-July from $106.0 billion in the previous month.
Foreign reserves consist of foreign-denominated securities, foreign exchange and other assets including gold, which help finance a country’s imports and foreign debt obligations, stabilize currency and buffer against external economic shocks.
The BSP said the latest GIR level provides a “robust external liquidity buffer” that can finance 7.2 months worth of imports of goods, services payments, and primary income.
“Moreover, it covers about 3.4 times the country’s short-term external debt based on residual maturity,” it said.
