THE Bangko Sentral ng Pilipinas (BSP) said that based from their preliminary data, it said that the gross international reserves (GIR) — which serves as the measure of the country’s ability to settle import payments and service foreign debt, has totalled $101.3 billion.

The said figure is based on the first nine months of 2023.

It is said to be higher than the end-October 2023 level of $101.1 billion.

According to the BSP’s reserve assets which consist of foreign investments, gold, foreign exchange, reserve position in the International Monetary Fund (IMF), and special drawing rights.

“The month-on-month increase in the GIR level reflected mainly the upward valuation adjustments in the value of the BSP’s gold holdings due to the increase in the price of gold in the international market, and the BSP’s net income from its investments abroad,” the central bank said.

According to the end-November 2023 GIR level, the BSP said that is as a “more than adequate” external liquidity buffer.

It is said to finance at least 7.5 months’ worth of imports of goods and payments of services and primary income.