MANILA – The Philippines’ gross international reserves (GIR) increased to US$108.8 billion at the end of September 2025 from US$107.1 billion in August, driven by higher global gold prices, income from Bangko Sentral ng Pilipinas (BSP) investments, and foreign currency deposits by the national government, preliminary data show.

GIR, which include foreign-denominated securities, foreign exchange, and other assets such as gold, serve as a buffer to finance imports, meet foreign debt obligations, stabilize the peso, and protect the economy from external shocks. The latest reserves level is sufficient to cover 7.3 months of imports of goods and payments for services and primary income, and is 3.6 times the country’s short-term external debt based on residual maturity.

The net international reserves (NIR) also rose by US$1.7 billion, matching the growth in GIR, reinforcing the country’s external liquidity position.