Forex rules temporarily relaxed in Philippines

Forex rules temporarily relaxed in Philippines Bangko Sentral Ng Pilipinas ("BSP"), the Philippines' central bank and financial regulator, will temporarily relax foreign exchange ("forex") trading policies. Specifically, the regulator will allow companies with unregistered loans to buy dollars, as long as they use them to service foreign loans. This change in policy stems from the rising pressure on the Philippine peso. "For a certain period, we will allow companies and entities with foreign loans that are unregistered to buy dollars to service their loans," said BSP Governor Amando M. Tetangco, Jr.,"This will increase the demand for dollars." Current BSP regulations dictate that foreign or foreign currency-denominated borrowings be approved by the central bank. Additionally, private firms must be registered with BSP if they have loans guaranteed by the public sector or covered by bank-authorized forex guarantees. This policy allows the central bank to keep an eye on the countries foreign debt obligations, and ensure that servicing costs are within reason. This temporary easing will go into effect next year. Read more about this BSP forex policy change. photo credit: Storm Crypt CFTC LAW | Forex, Futures and Derivatives Regulatory News – Forex, Futures, and Commodities News and Analysis. Press release, rule summaries, and enforcement actions from the CFTC, NFA, SEC, FSA, and other agencies from around the world.

Read more detail on Recent Administrative Law Posts –

Legal notice about the Forex rules temporarily relaxed in Philippines rubric : Hukuki Net Legal News is not responsible for the privacy statements or other content from Web sites outside of the Hukuki.net site. Please refer the progenitor link to check the legal entity of this resource hereinabove.

Do you need High Quality Legal documents or forms related to Forex rules temporarily relaxed in Philippines?

This entry was posted in Administrative law and tagged , , , , . Bookmark the permalink.

Leave a Reply