PH international reserves neared two-year low of $103.4B in July

MANILA, Philippines — The Philippines’ foreign reserves fell to their lowest level in nearly two years in July, as the government paid down offshore debt and the central bank intervened to limit swings in peso trading.

Gross international reserves totaled $103.4 billion at the end of July, down 1.2 percent from $104.7 billion a month earlier, the Bangko Sentral ng Pilipinas (BSP) said on Friday. It was the lowest level since January 2025, when reserves stood at $103.3 billion.

READ: Gross international reserves hit 3-month high

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The decline also pushed the reserve buffer below the central bank’s revised year-end forecast of $104 billion.FEATURED STORIES