PH Foreign Reserves Rise to $106.7B in February 2025

March 8, 2025 – The Philippines’ gross international reserves (GIR) increased to $106.7 billion at the end of February 2025, up from $103.3 billion in January, according to preliminary data from the Bangko Sentral ng Pilipinas (BSP).

Key Factors Behind the Increase

• Government deposits from proceeds of the $3.29 billion global bond issuance in late January.
• Higher gold prices, which hit a record $2,956 per ounce on February 24, 2025.
• Net income from BSP’s foreign investments.

Reserve Strength and Economic Impact

• The latest GIR level can cover 7.5 months’ worth of imports, well above the international standard of three months.
• It is also 3.8 times the country’s short-term external debt, ensuring strong financial stability.
• Net international reserves (GIR minus BSP’s reserve liabilities) rose to $106.6 billion from $103.2 billion in January.

The increase in reserves strengthens the Philippines’ ability to pay for imports, service foreign debt, and maintain economic stability.