The country’s gross international reserves (GIR) stood at $80.785 billion in August, still down by $2.106 billion from the year-earlier level despite an increase of $141 million from July on the back of the Treasury’s net foreign currency deposits and income from the central bank’s investments abroad.
The Bangko Sentral ng Pilipinas (BSP) said in its release of the data on Friday that the current level of reserves provides a buffer of 11 months’ worth of payments for the economy.