Dollar reserves inch up to $105.9 billion

The Philippines' gross international reserves (GIR) inched up in August as the value of the central bank's gold holdings hit a record high.

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Preliminary data from the Bangko Sentral ng Pilipinas (BSP) showed that dollar reserves went up by 0.46% to $105.9 billion as of end-August from $105.4 billion at end-July.

Year on year, dollar reserves dipped by 1.8% from $107.857 billion in August 2024.

"The Philippines' gross international reserves rose in August 2025 due to higher global gold prices and income from Bangko Sentral ng Pilipinas' investments," the central bank said in a statement.

Ample foreign exchange buffers protect the country from market volatility and ensure that it is capable of paying its debts in the event of an economic downturn.

BSP data showed the level of dollar reserves as of end-August is enough to cover about 3.4 times the country's short-term external debt based on residual maturity.

It is also equivalent to 7.2 months' worth of imports of goods and payments of services and primary income, more than double the three-month standard.

"The latest GIR level provides a robust external liquidity buffer," the central bank said.