THE PHILIPPINES’ gross international reserves (GIR) rose to USD110.9 billion at end-2025 from USD106.3 billion a year earlier, according to the Bangko Sentral ng Pilipinas (BSP).
Citing preliminary data, the BSP on Wednesday night, January 7, said the reserve level is equivalent to 7.4 months’ worth of imports of goods and services, well above the international standard of three to four months.
However, the end-December GIR was slightly lower than the USD111.3 billion recorded at end-November 2025, the BSP said in a news release.
The BSP said the dollar reserves consist of foreign-denominated securities, foreign exchange, and other assets, including gold. These can help finance imports and foreign debt, stabilize the currency, and cushion the economy against external shocks.
Rizal Commercial Banking Corporation (RCBC) chief economist Michael Ricafort attributed the month-on-month decline to lower foreign investments. This was partly offset by a 3.1 percent increase in the valuation of the BSP’s gold holdings to USD18.577 billion, driven by higher global gold prices.
Ricafort added that structural dollar inflows from overseas Filipino workers (OFWs) and the business process outsourcing (BPO) sector are expected to continue supporting the GIR.
With the peso trading at around the 59-level against the U.S. dollar, Ricafort said the currency remains stable despite domestic and external challenges.
In 2025, the peso ended at 58.79 level, 1.6 percent weaker than its 57.84 close at end-2024. (PNA)
