MANILA— The Philippines‘ gross international reserves PHFXR=ECI dropped to $99.8 billion at the end of June, from $100.6 billion a month earlier, the central bank said on Friday, citing preliminary data.
The latest reserves represent “a more than adequate external liquidity buffer equivalent to 7.4 months’ worth of imports of goods and payments of services and primary income”, it said in a statement.
—Reporting by Enrico Dela Cruz; Editing by Toby Chopra
