The amount marked an increase of $1.54 billion from August.
According to the central bank, the end-September GIR level represents a more than adequate external liquidity buffer, which can cushion the domestic economy against external shocks. It is equivalent to 10 months’ worth of import payments.
Short-term loans are safe too, as the amount can pay over 9 times worth the maturing debts.
The BSP expects the country’s reserves to maintain the $100 billion level until the end of the year and will increase to $102 billion next year.