INTERNATIONAL RESERVES OF THE BANGKO SENTRAL NG PILIPINAS
	end of period
	in million US dollars
			2005		2006							2 0 0 7								2 0 0 8
			Dec		Dec		Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec		Jan	Feb	Mar	Apr	May	Jun	r
	Reserve Position in the Fund		125.04		131.70		130.46	131.73	132.21	133.61	132.44	132.68	134.13	134.26	136.36	137.96	139.30	138.27		139.75	141.08	144.06	142.32	141.97	143.20
	Gold		2,568.38		2,941.30		2,975.85	2,987.63	3,008.36	3,040.19	2,992.37	2,928.24	3,024.09	3,122.51	3,034.47	3,365.23	3,330.72	3,540.61		3,857.71	4,059.50	3,834.39	3,584.75	3,795.61	3,962.94
	SDRs		0.84		2.33		4.54	1.69	1.70	1.71	0.62	0.62	1.40	0.25	0.26	1.84	0.74	0.74		1.06	0.08	0.08	13.37	12.61	12.71
	Foreign Investments		15,397.53		19,611.41		19,995.27	21,004.00	20,804.08	21,428.90	21,855.14	23,022.74	24,607.95	27,002.87	27,498.73	28,724.38	28,978.05	29,715.21		30,511.44	31,756.01	32,274.85	32,228.27	31,884.16	32,223.58
	Foreign Exchange		402.56		279.98		588.23	417.11	738.06	485.19	618.71	298.67	251.43	225.24	232.34	268.67	270.43	356.22		299.77	331.13	370.63	386.86	398.77	369.85
GIR			18,494.35		22,966.72		23,694.35	24,542.16	24,684.41	25,089.60	25,599.28	26,382.95	28,019.00	30,485.13	30,902.16	32,498.08	32,719.24	33,751.05		34,809.73	36,287.80	36,624.01	36,355.57	36,233.12	36,712.28
	Annual Growth Rate (in %)		14.0		24.2		16.1	19.8	19.6	20.3	22.2	24.9	31.7	41.5	43.1	45.7	44.5	47.0		46.9	47.9	48.4	44.9	41.5	39.2
Less:
	Liabilities		835.81		13.75		18.53	22.36	25.46	28.61	22.36	7.22	11.48	16.04	22.43	26.78	22.15	6.94		11.05	15.23	21.44	27.46	21.84	506.01
NIR 1			17,658.54		22,952.97		23,675.82	24,519.80	24,658.95	25,060.99	25,576.92	26,375.73	28,007.52	30,469.09	30,879.73	32,471.30	32,697.09	33,744.11		34,798.68	36,272.57	36,602.57	36,328.11	36,211.28	36,206.27
Reserve Adequacy Measures
	Import Cover 2		3.82		4.23		4.34	4.46	4.47	4.53	4.60	4.72	4.96	5.40	5.43	5.65	5.63	5.71		5.81	6.00	5.99	5.95	5.93	6.01
	Short-Term External Debt Cover
		Original Maturity	289.20		458.51		473.04	489.96	482.31	490.22	500.18	443.63	471.15	512.61	446.24	469.29	472.48	476.44		491.39	512.25	550.65	546.62	544.78	513.39
		Residual Maturity 3	131.56		250.07		261.15	259.18	248.56	253.84	258.92	243.45	256.96	278.02	253.86	269.56	271.42	271.40		280.57	304.53	317.50	323.39	322.42	294.81
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	100.00	100.00	100.00	100.00
		Reserve Position in the Fund	0.68		0.57		0.55	0.54	0.54	0.53	0.52	0.50	0.48	0.44	0.44	0.42	0.43	0.41		0.40	0.39	0.39	0.39	0.39	0.39
		Gold	13.89		12.81		12.56	12.17	12.19	12.12	11.69	11.10	10.79	10.24	9.82	10.36	10.18	10.49		11.08	11.19	10.47	9.86	10.48	10.80
		SDRs	0.00		0.01		0.02	0.01	0.01	0.01	0.00	0.00	0.00	0.00	0.00	0.01	0.00	0.00		0.00	0.00	0.00	0.04	0.03	0.03
		Foreign Investments	83.26		85.39		84.39	85.58	84.28	85.41	85.37	87.26	87.83	88.58	88.99	88.39	88.57	88.04		87.65	87.51	88.12	88.65	88.00	87.77
		Foreign Exchange	2.18		1.22		2.48	1.70	2.99	1.93	2.42	1.13	0.90	0.74	0.75	0.83	0.83	1.06		0.86	0.91	1.01	1.06	1.10	1.01
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 BSP's Gross International Reserves (GIR) and the total of its 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.
r	Revised based on the final International Reserves (IR) report for end-June 2008.
Source:  Bangko Sentral ng Pilipinas