towards Katherine K. Chan
The Philippines’ International Reserves (Gron) rose to their highest level in more than a year as central gold bonds reached rehigh thread in late November.
The country’s reserves reached $111.077 billion as of November, up 0.75% from $110.249 billion seen last month, preliminary data from the Bangko Sentral NG Pipipinas (BSP) showed.
This was the highest Giro Alevel in 13 months or from $ 111.084 billion into October 2024.
Year to Year, the dollars kept increased by 2.39% from $ 108.488 billion.
WIR refers to the bank’s foreign assets that have been largely driven as investments in foreign-issued securities, foreign exchange, and currency gold, among others.
These are supplemented by claims on the International Monetary Fund (IMF) in the form of reserve funds and special drawing rights (SDRS).
In a statement issued late on Friday, the BSP said the dollar’s reserve for November is sufficient to cover approximately the country’s short-term external debt based on remaining maturities.
According to the central bank, the gir avere is considered sufficient if it can cover at least 100% of the country’s payment of the foreign sovereign debt due to the year.
Foreign national savings in the whole country is equivalent to the importation of about 7.4 months of services and payments for services and basic salary, more than double the level of three months.
“The latest Girl rate provides a strong external buffer,” the Central Bank said.
Foreign buffers are added to protect a country from market fluctuations and ensure that it is able to pay its debts in the event of an economic downturn.
The BSP’s preliminary data showed that its Holidays jumped to the highest of $18.026 billion during the 11-month period, up by 6.73 billion from the previous month. It also increased by 63.49% from $ 11.026 billion last year.
However, the foreign investment of the BSP decreased by 0.32% in the month to $ 87.808 billion from $ 88.09 billion by 38.09 billion by $ 91.304 billion at the same time last year.
Foreign exchange management likewise decreased by 4.94% to $603.8 million from $635.2 million at the end of October. Year to Year, it is set by 65.07% from $ 1.779 billion.
At the same time, the country’s IMF reserve position was added by 0.01% to $728.3 million from $728.2 million last month. It grew by 8.99% from $ 668.2 million last recorded – November 2024.
SDRS – or the amount the Philippines can tap into the IMF’s reserve currency basket – increased by 0.14% to $3.911 billion as of November from $3.889 billion last month. Similarly it increases by 4% from $ 3.761 billion a year earlier.
RIMAL Commerce Banking Corp. Economist Michael L. Ricafufort said the high prices of gold in the global market in the Global Appec Market At a record high, the increase in savings is its dollars.
“The increase in the WIR (was) Mainly due to the increase of the last month of the month which held $ 1.135 billion available for $ 4,76 billion available for $ 4,381.52 for $ 4,381.52 for $ 4,381.52 on Oct. 20, 2025,” he said in an email.
Mr. Ricafufort added that the higher BIR levels allowed the BSP to intervene in the foreign exchange market amid the recent peso volatility.
BSP Governor Eli M. Remolona, Jr. he said that they are getting a little bit involved in the foreign exchange market just to make sure it won’t be “too bad.”
He later said the Central Bank does not have a target rate for the peso, but noted that they may intervene when the market goes “crazy.”
On Friday, the peso closed at P58.935 per dollar, up 8.7 centavos from P59.022 ended Thursday, the Bankers Association of the Philippines data showed. However, the local unit hits the P59 Per-dollar level several times in November, yes It reached a low of P59.17 against the Greenback on November 12.
“In the coming months, the girli of the country is still supported by the continuous growth of the payment of the country’s structure from Ofw (BPO (Business Process Supports),” or the rapid clearance of goods), “said Mr. Ricafort.
The BSP expects dollar reserves to reach $105 billion this year and $106 billion in 2026.
