MANILA — The Philippines‘ gross international reserves PHFXR=ECI dropped to $98.7 billion at end-September, from $99.6 billion a month earlier, the central bank said on Friday, citing preliminary data.
The latest forex reserves represents a more than adequate external liquidity buffer equivalent to 7.3 months worth of imports of goods and payments of services and primary income, it said in a statement.
— Reporting by Karen Lema; Editing by Martin Petty
