Central Bank of the Philippines continues forex liberalisation drive

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The Central Bank of the Philippines has taken further steps towards liberalising its foreign exchange regulations, introducing a raft of measures to meet rising demand and nudge consumers away from informal transactions.

Representing the 'sixth wave' of liberalisations implemented by the central bank since 2007, the latest changes make it easier for people to change pesos at banks and increases the thresholds at which they may exchange currency without needing special permission.

"The new measur

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