THE Philippines’ dollar reserves declined to its lowest level in over a year due to external debt payments, lower global gold prices and the central bank’s efforts to support the peso amid the Middle East war, the Bangko Sentral ng Pilipinas (BSP) said.
The country’s gross international reserves (GIR) stood at $103.974 billion at end-May, down 1.14% from the $105.177 billion it held a year ago, preliminary BSP data showed.
Month on month, it fell by 0.34% from the $104.328 billion at end-April.
This was the lowest GIR level seen since January 2025, when it stood at $103.271 billion.
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