PH foreign reserves rose to $104.8B in August 2026 -- BSP data

The Philippines' gross international reserves (GIR) increased to $104.8 billion in August 2026, up from $103.3 billion in July, according to data released by the Bangko Sentral ng Pilipinas (BSP). GIR, a measure of the country's ability to settle import payments and service foreign debt, comprises eligible foreign assets held by the central bank, including securities, currency, deposits, reserve position in the fund, gold, and special drawing rights. The BSP stated that the GIR level provides "sufficient reserves to meet the country's import needs, service its external debt obligations, and serve as a buffer against external economic shocks." The month-on-month increase in reserves was primarily driven by upward valuation adjustments in the BSP's gold holdings due to rising gold prices in the international market, and higher net income from its investments abroad as global bond yields increased. As of end-August, the GIR can cover approximately 6.6 months' worth of imports of goods and payments of services and primary income. It can also service about 3.3 times the country's short-term external debt based on residual maturity. Conventionally, GIR is considered adequate if it can finance at least three months' worth of a country's imports and service payments. It is also deemed adequate if it is at least equal to 100% of the country's total short-term external debt falling due within the next 12 months.