• The Bangko Sentral ng Pilipinas (BSP) reported that its currency and deposits abroad totalled $2.206 billion only in 2023, down 53 percent compared to $4.698 billion in 2022.
  • BSP’s foreign currency and deposits are included in the country’s US dollar reserves or gross international reserves (GIR). As of end-December last year, the GIR stood at $103.753 billion, up from $96.249 billion in 2022.
  • Based on BSP data, currency and deposits in other foreign banks decreased by 53.75 percent to $1.876 billion versus $4.057 billion in 2022. These are banks identified by the BSP as “banks headquartered outside” of the Philippines.