Philippines' gross international reserves continue rising in July; Covid-19 cases are still soaring

MANILA, Aug 15 (Xinhua): The Philippines' gross international reserves (GIR) level rose by US$ 0.79 billion to US$106.55 billion as of end-July, the Philippine central bank has announced.

The latest GIR level represents a more than adequate external liquidity buffer equivalent to 12.1 months' worth of imports of goods and payments of services and primary income, the Bangko Sentral ng Pilipinas (BSP) said in a statement.