BSP eyes tighter rules on FX transactions

Rafael Buenaventura of the Philippines Central Bank told reporters the BSP aims to tighten foreign exchange rules following the peso's steep decline against the US dollar.

Source: AFX

The Bangko Sentral ng Pilipinas (BSP) plans to tighten rules on foreign exchange transactions amid the peso's steep decline versus the US dollar, central bank governor Rafael Buenaventura said.

"We are looking at transactions to make sure some banks are not abusing (them)," Buenaventura told reporters.

He added the