Business – To temper peso, BSP may further ease forex rules – INQUIRER. MANILA, Philippines–The central bank, Bangko Sentral ng Pilipinas (BSP), may be forced to further ease foreign exchange rules to address the sharp rise of the peso, according to a paper by investment bank DBS. Exporters and families of overseas Filipino workers (OFWs) — badly hit by the steep climb of the peso — have been urging government for so long to temper the strengthening currency. In its latest assessment of emerging and industrialized economies, DBS noted that the Philippine peso is the strongest Asian currency so far this year, marking a year-to-date appreciation of 19. Increasing the overbought limit was a response to the increasing foreign exchange requirements of the corporate sector and helped temper the rise of the peso, the BSP had said. The Department of Finance earlier said measures were being prepared to temper the rise of the peso and ease the ill effects on OFWs. read more
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