The country’s gross international reserves (GIR) inched up to US$105.3 billion in June 2025 from US$105.2 billion in May, according to preliminary data from the Bangko Sentral ng Pilipinas (BSP). The modest increase was mainly driven by foreign currency deposits made by the national government and income from BSP’s external investments.
The GIR, a key source of foreign currency, plays a vital role in funding the country’s imports and servicing foreign debt, while also serving as a safeguard against external shocks and supporting the peso. The June reserve level is equivalent to 7.2 months’ worth of imports and payments, and covers 3.3 times the country’s short-term external debt based on residual maturity.
Net international reserves, which exclude short-term liabilities, also rose by US$0.3 billion to match the GIR at US$105.3 billion, underscoring the country’s continued external liquidity strength.
