The country’s gross international reserves (GIR) climbed to US$109.7 billion at the end of October 2025, up from US$109.1 billion in September, according to preliminary data from the Bangko Sentral ng Pilipinas (BSP).
The BSP said the higher reserves provide a strong external liquidity buffer, enough to cover 7.3 months’ worth of imports and payments for services and primary income. The latest GIR level is also 3.7 times the country’s short-term external debt based on residual maturity, reflecting the country’s ability to meet foreign obligations as and when they fall due.
Gross international reserves are made up of foreign-denominated securities, foreign exchange holdings, gold, and other reserve assets. These reserves are used to finance imports and external debt, stabilize the peso, and protect the economy from global financial shocks.
Data from the central bank showed that the country’s foreign exchange reserves have averaged US$23.5 billion from 1960 to 2025. The reserves reached an all-time high of US$112.7 billion in September 2024.
The BSP said the October increase reflects the country’s stable external position and continued foreign exchange inflows, supporting the overall resilience of the economy.
