MANILA— The Philippines’ gross international reserves PHFXR=ECIdropped to $93.95 billion at end-November, from $94.03 billion a month earlier, the central bank said on Wednesday, citing preliminary data.
The latest forex reserves represent a more-than-adequate external liquidity buffer equivalent to 7.5 months worth of imports of goods and payments of services and primary income, it said in a statement.
—Reporting by Neil Jerome Morales
