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US dollar bills. (The STAR/Edd Gumban)MANILA — The Philippines’ gross foreign reserves PHFXR=ECIdropped to $104.6 billion at the end of April, from $106.7 billion a month earlier, the central bank said on Wednesday, citing preliminary data.
The latest forex reserves provide a “robust” external liquidity buffer equivalent to 7.2 months worth of imports of goods and payments of services and primary income, the bank said in a statement.
—Reporting by Mikhail Flores; Editing by Andrew Heavens
