International Reserves inching towards $80 B
The gross international reserves (GIR) of the Philippine central bank has grown by almost $5 B from July to August 2011. It is possible that the GIR might reach $80 B by the end of this month or next month.
source: BSP, SPEI/International Reserves
The bulk of such reserves though, are in the form of foreign investments. With what is happening in Europe and the US, many foreign investors are putting their money in many emerging markets like the Philippines — in local equities, bonds, the peso, etc.