(Image by Brett Hondow from Pixabay)
MANILA — The Philippines’ gross foreign reserves PHFXR=ECI dropped to $97.4 billion at the end of October, from a revised $99.5 billion a month earlier, the central bank said on Friday, citing preliminary data.
The latest forex reserves would provide an external liquidity buffer equivalent to 6.1 months worth of imports of goods and payments of services and primary income, it said in a statement.
—Reporting by Mikhail Flores and Nestor Corrales; Editing by David Stanway
