MANILA — The Philippines’ gross foreign reserves PHFXR=ECI dropped to $103.4 billion at the end of April, from $104.1 billion a month earlier, the central bank said on Tuesday, citing preliminary data.
The latest forex reserves were 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 Mikhail Flores; Editing by Martin Petty