The Philippines’ gross international reserves (GIR) rose to $108.8 billion as of end-September 2025 from $107.1 billion in August, the Bangko Sentral ng Pilipinas (BSP) said Tuesday.
The latest figure, however, was lower than the record $112.7 billion in reserves logged in September 2024.
Preliminary data from the BSP showed that the month-on-month increase in GIR was mainly due to higher global gold prices, the bank’s investment income and the national government’s foreign currency deposits with the BSP.
The GIR consists of foreign-denominated securities, foreign exchange and other assets including gold, which help the country finance its imports and foreign debt obligations.
It can also help stabilize the country’s currency and provide a buffer against external economic shocks.
The BSP said the latest GIR level continues to provide a robust external liquidity buffer worth 7.3 months of imports of goods, service payments and primary income.
By convention, GIR is considered adequate if it can finance at least three months’ worth of the country’s imports and services payments.
It can also cover about 3.6 times the country’s short-term external debt based on residual maturity.
Meanwhile, the net international reserves increased from $107.1 billion as of end-August 2025 to $108.8 billion as of end-September 2025, the BSP said.
