MANILA — The Philippines‘ gross foreign reserves PHFXR=ECI dropped to $102.7 billion at the end of February, from $103.3 a month earlier, the central bank said on Thursday, citing 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