2009.11.0604:03:00UTC+00Philippines Gross Intl Reserves Rise In October

Philippines' gross international reserves amounted to $43.2 billion at the end of October compared to $42.5 billion in September, the Bangko Sentral ng Pilipinas said Friday.

The current gross reserves level is sufficient to cover eight months of imports of goods and payments of services and income. It is also equivalent to 9.1 times the country's short-term external debt based on original maturity and 4 times based on residual maturity, the central bank said.

Meanwhile, the net international reserves, which includes revaluation of reserve assets and liabilities, increased to $43.1 billion by October-end from $41.9 billion in September.

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