Philippines, South Africa Update July Foreign-Reserve Holdings

The Bangko Sentral ng Pilipinas said the country’s gross international reserves stood at US$105.7 billion at the end of July. The stockpile serves as a buffer against external shocks and is monitored for its capacity to cover imports and foreign-currency obligations. Separately, the South African Reserve Bank reported that net international reserves slipped to US$65.14 billion in July from US$65.22 billion a month earlier, while gross reserves rose to US$69.16 billion from US$68.42 billion. The changes reflect routine valuation adjustments and portfolio flows.