16	INTERNATIONAL RESERVES
	end-of-period
	in million US dollars
								2 0 1 0								2 0 1 1
			Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec		Jan	Feb	Mar	Apr	p
	Reserve Position in the Fund		136.32	134.43	133.05	131.96	129.32	129.72	133.31	132.46	136.61	256.78	248.38	250.70		355.79	358.32	361.16	369.23
	Gold		5,399.34	5,579.01	5,951.86	6,312.47	6,674.68	6,859.99	6,676.52	7,057.09	7,394.73	6,811.80	6,913.20	7,010.28		6,581.73	6,970.17	7,080.26	7,598.61
	SDRs		1,131.35	1,115.56	1,104.12	1,095.07	1,073.09	1,076.42	1,105.26	1,098.20	1,132.61	1,148.06	1,110.43	1,120.80		1,136.74	1,144.87	1,153.93	1,153.93
	Foreign Investments		38,129.63	38,628.93	37,891.20	39,058.22	39,508.84	40,127.37	40,792.67	41,306.24	44,784.85	48,640.52	52,036.67	53,440.59		55,032.52	55,107.05	57,002.62	58,367.99
	Foreign Exchange		795.08	306.43	519.31	346.18	303.71	510.90	341.42	312.00	305.45	296.43	256.90	550.72		433.75	309.76	385.42	294.11
GIR			45,591.72	45,764.36	45,599.54	46,943.90	47,689.64	48,704.40	49,049.18	49,905.99	53,754.25	57,153.59	60,565.58	62,373.09		63,540.53	63,890.17	65,983.39	67,783.87
	Annual Growth Rate (in %)		16.2	17.6	16.8	19.4	20.5	23.3	22.1	20.3	26.4	32.4	37.1	41.0		39.4	39.6	44.7	44.4
Less:
	Liabilities		7.42	11.02	15.53	20.02	20.89	3.99	7.51	11.27	15.85	20.48	20.70	3.39		6.69	9.47	13.63	13.63
NIR 1			45,584.30	45,753.34	45,584.01	46,923.88	47,668.75	48,700.41	49,041.67	49,894.72	53,738.40	57,133.11	60,544.88	62,369.70		63,533.84	63,880.70	65,969.76	67,770.24
Reserve Adequacy Measures
	Import Cover 2		8.70	8.54	8.29	8.33	8.25	8.36	8.25	8.25	8.70	9.07	9.46	9.58		9.76	9.81	10.13	10.41
	Short-Term External Debt Cover
		Original Maturity	1,139.22	1,143.54	872.72	898.45	912.72	885.86	892.13	907.71	936.16	995.36	1,054.78	990.84		1,009.38	1,014.94	1,048.19	1,076.79
		Residual Maturity 3	517.03	502.68	460.60	473.89	479.24	483.61	503.07	500.91	527.26	547.19	580.96	547.42		529.02	571.93	592.95	609.18
Memo Item
	Percent Share to Total GIR		100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00		100.00	100.00	100.00	100.00
		Reserve Position in the Fund	0.30	0.29	0.29	0.28	0.27	0.27	0.27	0.27	0.25	0.45	0.41	0.40		0.56	0.56	0.55	0.54
		Gold	11.84	12.19	13.05	13.45	14.00	14.08	13.61	14.14	13.76	11.92	11.41	11.24		10.36	10.91	10.73	11.21
		SDRs	2.48	2.44	2.42	2.33	2.25	2.21	2.25	2.20	2.11	2.01	1.83	1.80		1.79	1.79	1.75	1.70
		Foreign Investments	83.63	84.41	83.10	83.20	82.85	82.39	83.17	82.77	83.31	85.10	85.92	85.68		86.61	86.25	86.39	86.11
		Foreign Exchange	1.74	0.67	1.14	0.74	0.64	1.05	0.70	0.63	0.57	0.52	0.42	0.88		0.68	0.48	0.58	0.43
1	Inclusive of gold monetization and revaluation of reserve assets and reserve-related liabilties which are excluded in the calculation of the balance of payments (BOP).  Net International Reserves (NIR) refer to the difference
	between Gross International Reserves (GIR) and the total of the Bangko Sentral's short-term liabilities and the Use of Fund Credits (UFC).  UFC  refers to the sum of outstanding drawings from the IMF under various policies
	and facilities, other than drawings under the reserve tranche.
2	Number of months of average imports of goods and payment of services and income that can be financed by reserves.
3	Refers to adequacy of reserves to cover outstanding short-term external debt based on original maturity plus principal payments on medium- and long-term loans of the public and private sectors falling due in the
	next 12 months.
p	Preliminary
Source:  Bangko Sentral ng Pilipinas