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The Philippines' gross international reserves (GIR) starts the 2nd Quarter of 2018 low as it significantly dropped by US$902.4 million from US$80.51 billion in March to US$79.61 billion in April, which could adequately cover 7.8 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 – also fell significantly to US$79.59 billion as of end-April, compared to the end-March level of US$80.50 billion.
 
Decrease in gold (↓1.4%), foreign investments (↓0.6%) and foreign exchange (↓6.2%) highly contributed to the plunge of GIR.

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