FX.co ★ Philippines’ FX Reserves Slip to $107.5 Billion in March, Easing from Record Levels

Philippines’ foreign exchange reserves declined in March 2026, easing from their previous peak as the country’s external buffers moderated. According to the latest data updated on 7 April 2026, the country’s FX reserves fell to USD 107.50 billion in March from USD 112.70 billion in February 2026.

The pullback comes after February’s higher reading, suggesting a normalization in the reserve position following earlier accumulation. While the March figure marks a decrease from the prior month, it still reflects a substantial stock of foreign currency holdings that supports the Philippines’ external stability and capacity to meet foreign obligations.

Market participants and analysts are likely to watch subsequent releases closely to assess whether March’s decline is a one-off adjustment or the start of a broader trend in the country’s reserve management strategy.