Central bank 'actively managing' peso-dollar exchange: Espenilla | ABS-CBN
ADVERTISEMENT
Welcome, Kapamilya! We use cookies to improve your browsing experience. Continuing to use this site means you agree to our use of cookies. Tell me more!
Central bank 'actively managing' peso-dollar exchange: Espenilla
Central bank 'actively managing' peso-dollar exchange: Espenilla
ABS-CBN News
Published Jul 06, 2017 10:26 AM PHT
MANILA - The Bangko Sentral ng Pilipinas is "actively managing excessive volatility" in the currency market, Governor Nestor Espenilla said Thursday, as the peso hovered at its weakest level against the dollar in a decade.
MANILA - The Bangko Sentral ng Pilipinas is "actively managing excessive volatility" in the currency market, Governor Nestor Espenilla said Thursday, as the peso hovered at its weakest level against the dollar in a decade.
The peso's weakness was due to the normalization of ultra-easy monetary policy in the US and rising borrowing costs in Europe and Japan, Espenilla said in a statement.
The peso's weakness was due to the normalization of ultra-easy monetary policy in the US and rising borrowing costs in Europe and Japan, Espenilla said in a statement.
"The latest peso movements broadly reflect prevailing market conditions and underlying economic fundamentals, in line with the BSP exchange rate policy," Espenilla said.
"The latest peso movements broadly reflect prevailing market conditions and underlying economic fundamentals, in line with the BSP exchange rate policy," Espenilla said.
"BSP is nevertheless actively managing excessive volatility. This is business as usual," he said.
"BSP is nevertheless actively managing excessive volatility. This is business as usual," he said.
ADVERTISEMENT
The peso opened at P50.53 against the dollar on Thursday from P50.60 on Wednesday.
The peso opened at P50.53 against the dollar on Thursday from P50.60 on Wednesday.
ADVERTISEMENT
ADVERTISEMENT
