The Philippines' gross international reserves (GIR) expanded by US$448 million from US$81.07 billion in July to US$81.51 billion in August 2017, which could adequately cover 8.7 months’ worth of imports of goods and payments of services and income.

Net international reserves – the difference between the GIR and total short-term liabilities – increased to US$81.51 billion as of end-August 2017, compared to the end-July 2017 level of US$81.06 billion.

The country’s foreign currency reserves rose to US$4.58 billion, the highest level since January 2017.  Its gold holdings similarly posted its highest since the start of the year at US$8.43 billion from end-July’s level of US$8.00 billion.

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