Philippines gross foreign reserves at $102.7 billion at end-February

March 8, 2024 - 9:30 AM
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1000 cash
This undated file photo shows one thousand peso bills. (The STAR/Walter Bollozos/File Photo)

The Philippines‘ gross foreign reserves PHFXR=ECI dropped to $102.7 billion at the end of Februaryfrom $103.3 a month earlier, the central bank said on Thursdayciting preliminary data.

The latest forex reserves represent a more-than-adequate external liquidity buffer equivalent to 7.7 months worth of imports of goods and payments of services and primary income, it said in a statement.

— Reporting by Neil Jerome Morales; Editing by Alex Richardson