The Philippines’ gross international reserves (GIR) recovered slightly in August to hit its highest level in two months, with the Bangko Sentral ng Pilipinas (BSP) attributing the result to its foreign exchange operations and the national government’s net foreign currency deposits.

Central bank data released on Friday showed the country’s foreign exchange reserves at $77.828 billion, up 1.4 percent from July but lower compared to the $81.725 billion recorded a year earlier.