MANILA, July 15 (Xinhua) -- The Philippines's gross international reserves (GIR) level rose by 30.5 million U.S. dollars to 93.32 billion U.S. dollars as of end-June 2020 from the end-May 2020 level of 93.29 billion U.S. dollars, the Philippine central bank said on Wednesday.
The Bangko Sentral ng Pilipinas (BSP) or the central bank of the Philippines said the month-on-month increase in the GIR level reflected inflows mainly from the national government's foreign currency deposits with the BSP.
The BSP said the end-June 2020 GIR level represents an ample external liquidity buffer, which is equivalent to 8.4 months' worth of imports of goods and payments of services and primary income.
Moreover, the BSP said it is also about 7.3 times the country's short-term external debt based on original maturity and 4.8 times based on residual maturity. Enditem
