International Reserves
in million US dollars; as of periods indicated
2024 2025
      Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar a
Reserve Position in the Fund 753.9 752.5 741.3 736.1 737.2 740.4 719.9 725.9 731.1 683.9 668.2 675.6 671.3 670.2 653.0
Gold 10,299.1 10,337.3 10,531.5 10,255.2 10,021.8 9,907.7 10,312.2 10,221.0 10,859.6 11,353.9 11,026.2 11,005.7 11,751.7 12,049.9 12,762.9
SDRs 3,776.1 3,777.6 3,767.6 3,741.1 3,773.8 3,750.4 3,787.7 3,847.4 3,875.3 3,803.6 3,760.7 3,732.7 3,731.9 3,752.5 3,804.8
Foreign Investments 87,278.3 86,449.4 87,944.0 87,126.0 89,520.5 89,988.2 91,109.1 92,273.8 95,199.4 93,103.0 91,304.1 89,476.0 86,368.1 90,116.8 88,923.9
Foreign Exchange 1,162.5 677.8 1,083.2 789.4 962.3 802.2 809.0 789.5 2,041.5 2,139.2 1,728.8 1,366.5 748.2 805.7 525.1
Gross International Reserves 103,269.9 101,994.5 104,067.5 102,647.8 105,015.6 105,188.9 106,737.8 107,857.6 112,706.9 111,083.7 108,488.0 106,256.5 103,271.2 107,395.1 106,669.7
Annual Growth Rate (in %) 2.6 3.8 2.5 0.9 4.4 5.8 6.8 8.3 14.9 9.9 5.6 2.4 . 5.3 2.5
Less:
Liabilities 587.4 20.9 37.8 53.2 32.6 26.8 43.2 21.3 36.5 50.6 30.0 22.1 35.6 17.6 31.4
Net International Reserves 1 102,682.5 101,973.6 104,029.7 102,594.5 104,983.1 105,162.1 106,694.6 107,836.3 112,670.5 111,033.1 108,458.0 106,234.4 103,235.6 107,377.5 106,638.3
Reserve Adequacy Measures
Import Cover 2 7.6 7.4 7.6 7.4 7.5 7.5 7.6 7.7 7.9 7.7 7.5 7.3 7.1 7.4 7.4
Short-Term External Debt Cover (in percent) 3
Original Maturity 4 589.2 580.2 608.7 594.5 604.4 587.7 592.9 599.0 533.8 513.4 503.8 507.3 486.4 r 505.8 r 502.4
Residual Maturity 5 405.1 r 394.5 r 404.3 r 389.4 r 393.1 r 391.1 r 394.2 r 389.3 r 397.9 r 387.3 r 382.2 r 381.9 r 356.8 r 374.3 r 363.9
Memo Item
Percent Share to Total GIR 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0
Reserve Position in the Fund 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.6 0.6 0.6 0.6 0.6 0.6 0.6
Gold 10.0 10.1 10.1 10.0 9.5 9.4 9.7 9.5 9.6 10.2 10.2 10.4 11.4 11.2 12.0
SDRs 3.7 3.7 3.6 3.6 3.6 3.6 3.5 3.6 3.4 3.4 3.5 3.5 3.6 3.5 3.6
Foreign Investments 84.5 84.8 84.5 84.9 85.2 85.5 85.4 85.6 84.5 83.8 84.2 84.2 83.6 83.9 83.4
Foreign Exchange 1.1 0.7 1.0 0.8 0.9 0.8 0.8 0.7 1.8 1.9 1.6 1.3 0.7 0.8 0.5
                                     
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 primary income that can be financed by reserves.  Data starting 2005 are based on International Monetary Fund's (IMF) Balance of Payments and International Investment Position Manual, 6th Edition (BPM6) concept.
3 Starting December 2005, outstanding annual external debt reflects the new reporting framework in line with international standards under the latest External Debt Statistics Guide and BPM6. 
4 Refers to adequacy of reserves to cover outstanding short-term external debt, i.e., debt repayable on demand or with an original maturity of one year or less, as of 31 January 2025.
5 Refers to adequacy of reserves to cover outstanding short-term external debt based on original maturity plus principal payments on medium- and long-term external loans of the public and private sectors falling due in the next 12 months. Figures reflect data based on debt service schedule on outstanding external debt as of 31 December 2024 and outstanding short-term external debt as of 31 January 2025.
Details may not add up to total due to rounding.
a Revised based on the final International Reserves (IR) report as of end-March 2025.
r revised
. rounds off to zero
Source:  Bangko Sentral ng Pilipinas