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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BAP launches US dollar-peso cross currency swap marketThe Bankers Association of the Philippines (BAP), on Monday, June 26, announced the opening of a US dollar-peso cross currency swap (USDPHP CCS) market for an initial seven banks as regular market makers. | ManilaBulletin READ:
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BAP launches dollar-peso cross currency swap marketMajor domestic and international banks can now undertake transactions using a new dollar-peso cross currency swap market that was recently rolled out by the Bankers Association of the Philippines. | miguelrcamusINQ /PDI
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