The Philippines' gross international reserves (GIR) grew by US$1.16 billion from US$80.31 billion in November to US$81.47 billion in December 2017, which could adequately cover 8.3 months’ worth of imports of goods and payments of services and income. 

Net international reserves – the difference between the GIR and total short-term liabilities – increased to US$81.45 billion as of end-December 2017, compared to the end-November 2017 level of US$80.29 billion. 

The country’s foreign currency reserves increased from US$5.45 billion in end-November 2017 to US$5.74 billion in end-December 2017.  Its gold holdings grew by US$291.4 million from US$8.05 billion in end-November to US$8.34 billion in end-December.

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