IN order to better manage foreign exchange and interest rate risks, the Bankers Association of the Philippines has launched a dollar-peso cross-currency swap market.
“It’s more of having the preference of the currency you need. It gives you more avenues or options to hedge your risk,” Jonathan L. Ravelas, senior adviser at professional services firm Reyes Tacandong & Co., explained to BusinessMirror. The BAP said the USDPHP CCS market involves a Philippine peso fixed rate and a US dollar floating swap with standard tenors of 1 year, 2 years, 3 years, 4 years, 5 years, 7 years and 10 years.
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