The Philippines’ gross international reserves (GIR) rose in June mainly due to foreign currency deposits by the national government with the Bangko Sentral ng Pilipinas (BSP) and income from BSP investments.

GIR grew from $105.2 billion as of end-May to $105.3 billion at end-June, according to preliminary data.

GIR are made up of foreign-denominated securities, foreign exchange, and other assets including gold. GIR help a country finance its imports and foreign debt obligations, stabilize its currency, and provide a buffer against external economic shocks.

The latest GIR level provides a robust external liquidity buffer, equivalent to 7.2 months' worth of imports of goods and payments of services and primary income.

Moreover, it covers about 3.3 times the country's short-term external debt based on residual maturity.

Similarly, the net international reserves increased by $0.3 billion from $105 billion as of end-May to $105.3 billion as of end-June. Bangko Sentral ng Pilipinas