4	INTERNATIONAL RESERVES
	end-of-period
	in million US dollars
					2023													2024
					Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec		Jan	Feb	Mar a
	Reserve Position in the Fund				797.3	785.7	808.3	809.3	797.2	794.6	801.9	790.4	778.1	777.4	787.2	760.9		753.9	752.5	741.3
	Gold				9,799.9	9,330.7	10,073.6	10,238.4	10,208.1	10,011.1	10,302.5	10,231.6	9,789.7	10,570.3	10,816.6	10,557.2		10,299.1	10,337.3	10,531.5
	SDRs				3,800.7	3,750.7	3,797.1	3,803.9	3,753.4	3,760.8	3,797.2	3,768.4	3,725.8	3,722.6	3,785.8	3,809.6		3,776.1	3,777.6	3,767.6
	Foreign Investments				84,150.4	83,828.6	85,400.4	85,768.1	84,761.6	83,660.2	83,682.6	84,133.1	82,988.0	84,728.0	85,420.9	87,854.8		87,278.3	86,449.4	87,944.0
	Foreign Exchange				2,117.2	520.5	1,468.9	1,140.9	1,068.3	1,160.1	1,367.3	644.6	834.4	1,236.8	1,909.7	770.7		1,162.5	677.8	1,083.2
GIR					100,665.5	98,216.1	101,548.3	101,760.6	100,588.6	99,386.7	99,951.4	99,567.9	98,116.0	101,035.2	102,720.1	103,753.2		103,269.9	101,994.5	104,067.5
	Annual Growth Rate (in %)				-6.5	-8.9	-5.4	-3.5	-3.0	-1.5	0.1	2.2	5.5	7.5	8.0	7.9		2.6	3.8	2.5
Less:
	Liabilities				32.7	18.3	33.3	48.0	31.6	25.5	42.2	21.8	37.6	734.0	848.4	27.9		587.4	20.9	37.8
NIR 1					100,632.8	98,197.9	101,515.0	101,712.6	100,557.0	99,361.2	99,909.2	99,546.1	98,078.4	100,301.1	101,871.7	103,725.4		102,682.5	101,973.6	104,029.7
Reserve Adequacy Measures
	Import Cover 2				7.5	7.3	7.5	7.5	7.4	7.4	7.4	7.4	7.3	7.5	7.6	7.7		7.6	7.5	7.7
	Short-Term External Debt Cover 3
		Original Maturity 4			589.5	581.8	585.2	600.1	576.1	573.9	586.8	573.2	571.8	584.7	596.7	606.9		588.1 r	580.8 r	592.6
		Residual Maturity 5			393.5 r	396.8 r	402.0 r	404.9 r	390.0 r	380.3 r	384.0 r	372.9 r	340.8 r	345.1 r	354.2 r	351.6 r		355.7 r	350.7 r	365.9
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			0.8	0.8	0.8	0.8	0.8	0.8	0.8	0.8	0.8	0.8	0.8	0.7		0.7	0.7	0.7
		Gold			9.7	9.5	9.9	10.1	10.1	10.1	10.3	10.3	10.0	10.5	10.5	10.2		10.0	10.1	10.1
		SDRs			3.8	3.8	3.7	3.7	3.7	3.8	3.8	3.8	3.8	3.7	3.7	3.7		3.7	3.7	3.6
		Foreign Investments			83.6	85.4	84.1	84.3	84.3	84.2	83.7	84.5	84.6	83.9	83.2	84.7		84.5	84.8	84.5
		Foreign Exchange			2.1	0.5	1.4	1.1	1.1	1.2	1.4	0.6	0.9	1.2	1.9	0.7		1.1	0.7	1.0
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	Based on latest available outstanding short-term external debt.
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 2023 and outstanding external short-term debt as of 31 January 2024.
a	Revised based on the final International Reserves (IR) report as of end-March 2024.
r	Revised
	Details may not add up to total due to rounding.
Source:  Bangko Sentral ng Pilipinas