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BSP to public: Don't take ‘undue advantage’ of changing market conditions

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“We ask those who have the means not to take undue advantage of changing market conditions. This does not help the Philippine peso; it does not help the Philippines,” the BSP said in an emailed statement.“What we can do is to bring all transactions into an organized and accessible formal market that offers consumer protection,” it added.

The Bangko Sentral ng Pilipinas on Tuesday appealed to the public not to take “undue advantage” of the changing market conditions, a day after the Philippine peso hit a fresh all-time low of P59:$1.

“We ask those who have the means not to take undue advantage of changing market conditions. This does not help the Philippine peso; it does not help the Philippines,” the BSP said in an emailed statement. The BSP said it is taking steps to address disruptions in the financial market, with the USD spot market open, along with the availability of forwards and repo facilities.

 

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