QUICK LOOK: PH dollar reserves snap 4-month decline with $3.4-B gain in Feb
March 8, 2025
8:58AM PHT
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The Philippines’ total dollar reserves increased to $106.7 billion in February 2025 from $103.3 billion in the previous month — reversing a slide that began in October 2024 — according to the Bangko Sentral ng Pilipinas (BSP).
Key Highlights:
Gross dollar reserves climbed to $106.7 billion in February, the first monthly increase since October.
Reserves cover 7.5 months of imports and 3.8 times short-term external debt.
Growth was driven by government foreign currency deposits and gold revaluation.
BSP’s foreign investment income contributed to the higher reserve level.
Net dollar reserves increased by $3.4 billion, reaching $106.6 billion in February 2025.
In a statement, the central bank said this level provides a buffer equivalent to 7.5 months of imports and is 3.8 times the country’s short-term external debt.
The increase was driven by foreign currency deposits from the national government, higher gold valuations, and income from BSP’s foreign investments.
Net dollar reserves also rose by $3.4 billion to $106.6 billion. The reserves boost strengthens the country’s external position amid global economic uncertainties.
