The country's gross international reserves rose to a three-month high in June, according to data from the Bangko Sentral ng Pilipinas (BSP), as reported by Philstar Biz.
The increase was primarily driven by the national government's foreign currency deposits and the BSP's investment income. The buffer stood at $103.8 billion as of end-June, the highest level since March, reflecting improved external liquidity.
Despite the monthly gain, reserves remained lower than the $105.5 billion recorded in the same period last year. The BSP attributed the year-on-year decline to adjustments in foreign exchange operations and debt repayments.