Philippine Central Bank ‘very active’ in FX market: Governor - BusinessMirror

The Philippine central bank has been “very active” in the foreign exchange market to curb excessive volatility and stem the peso’s depreciation, Governor Felipe Medalla said.

“We will not allow excessive changes in the exchange rate,” the governor said. “We, of course, sell strategically. It’s wiser to keep your powder dry and shoot later.” Higher interest rates, intervention in the currency market, and sterilization should be sufficient to cushion the economy against risks, Medalla said. “I am confident that by selecting the correct combination of these three measures, we will be able to navigate.”

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

VMR predicts rise of NFT market to $231B by 2030 - BusinessMirrorNon-fungible tokens (NFTs) are going to occupy a significant position in the market, with their value swelling to $231 billion by 2030, according to a report by Verified Market Research (VMR). At the 6th General Membership Meeting of the Philippine Marketing Association (PMA) on Thursday, Dennis Lim, general manager of LuponWXC, a community-backed gaming and
Source: BusinessMirror - 🏆 19. / 59 Read more »