Philippines’ gross foreign reserves at USD 94.1 billion at end-October

MANILA, Nov 7 (Reuters) – The Philippines’ gross international reserves increased slightly to USD 94.1 billion at end-October, from USD 93 billion a month earlier, the central bank said on Monday, citing preliminary data.

The latest forex reserves represents a more-than-adequate external liquidity buffer equivalent to 7.5 months worth of imports of goods and payments of services and primary income, it said in a statement.

(Reporting by Neil Jerome Morales; Editing by Kanupriya Kapoor)