MANILA, Dec. 6 (Xinhua) -- The Philippines' gross international reserves (GIR) rose by 0.56 billion U.S. dollars to 86.39 billion U.S. dollars as of end-November from 85.83 billion U.S. dollars as of end-October, the Philippine central bank Bangko Sentral ng Pilipinas (BSP) said on Friday.
"The month-on-month increase in the GIR level reflects the inflows arising from the BSP's foreign exchange operations and income from its investments abroad, and the national government's net foreign currency deposits," the BSP said.
According to the BSP, the end-November 2019 level of the GIR provides an ample external liquidity buffer that is equivalent to 7.5 months' worth of imports of goods and services and payments of primary income.
It is also equivalent to 5.6 times the country's short-term external debt based on original maturity and 4.1 times based on residual maturity, the BSP further said.
The BSP said net international reserves (NIR), which refers to the difference between the BSP's GIR and total short-term liabilities, likewise increased by 0.56 billion U.S. dollars to 86.38 billion U.S. dollars as of end-November from the end-October level of 85.82 billion U.S. dollars.
