Philippine bank expands dollar hedging facility

PHILIPPINES - The Philippine Central Bank said today, 19 July, its policy- making Monetary Board has approved the expansion of coverage under the currency risk protection program, a hedging facility managed by the monetary authority.

"By providing a hedging mechanism to a greater number of users, such a move is expected to relieve the pressure on the spot market created by market players wanting to frontload their future foreign currency requirements and by borrowers wanting to cover unmatured

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