{"id":26610,"date":"2014-09-22T15:22:42","date_gmt":"2014-09-22T07:22:42","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=26610"},"modified":"2014-09-22T18:24:26","modified_gmt":"2014-09-22T10:24:26","slug":"bsp-readies-itself-against-forex-instability","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2014\/09\/22\/bsp-readies-itself-against-forex-instability\/","title":{"rendered":"BSP readies itself against forex instability"},"content":{"rendered":"<figure id=\"attachment_10675\" aria-describedby=\"caption-attachment-10675\" style=\"width: 300px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2014\/05\/bangko-sentral-ng-pilipinas.jpeg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-10675\" src=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2014\/05\/bangko-sentral-ng-pilipinas-300x225.jpeg\" alt=\"Bangko Sentral ng Pilipinas (Central Bank of the Philippines). Wikipedia photo\" width=\"300\" height=\"225\" srcset=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2014\/05\/bangko-sentral-ng-pilipinas-300x225.jpeg 300w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2014\/05\/bangko-sentral-ng-pilipinas.jpeg 468w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><figcaption id=\"caption-attachment-10675\" class=\"wp-caption-text\">Bangko Sentral ng Pilipinas (Central Bank of the Philippines). Wikipedia photo<\/figcaption><\/figure>\n<p>MANILA &#8212; The Bangko Sentral ng Pilipinas said yesterday that it is ready to act in case of instability following recent activities involving the renewed geopolitical risks.<\/p>\n<p>\u201cOn the exchange rate, our policy remains the same \u2014 allow the foreign exchange rate to be fundamentally determined but we will not hesitate to be present in the market if the rate movements become excessively volatile\/fast in one direction,\u201d BSP Governor Amando M. Tetangco Jr. said.<\/p>\n<p>He added, \u201cWe will continue to monitor developments in Syria\/US policy and their impact on commodity prices to see how these translate into our domestic inflation dynamics, and assess if there is any need to make adjustments to policy.\u201d<\/p>\n<p>Last week, the US Senate backed up the plan of President Barack Obama to arm Syrian rebels to fight Islamic State militants. The plan is ready to be made into law once the US president signs it.<\/p>\n<p>According to analysts, this move may increase volatility in both international financial and oil markets.<\/p>\n<p>\u201cHeightened geopolitical risks often result in flight to quality in financial markets \u2014 often, towards advanced economies and therefore possible depreciation pressures on the currencies in EMEs (emerging markets and economies),\u201d said Tetangco. \u201cThese could also result, if related to major sources of oil\/commodities, to volatility in the international prices of these commodities,\u201d he added.<\/p>\n<p>On Thursday, the peso declined to 44.42 from 44.36 last Wednesday afternoon. There was no trading last Friday given Tropical Storm Mario locked down Metro Manila because of heavy to intense rains.<\/p>\n<p>Since the start of this year, the peso has averaged 44.28 per dollar.<\/p>\n<p>\u201cAll these said, we reiterate that the country\u2019s fundamentals remain sound and we have built buffers such as strong external liquidity position, sound banking sector, fiscal and monetary space, which should allow us to remain resilient in the face of these external risks,\u201d said Tetangco.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MANILA &#8212; The Bangko Sentral ng Pilipinas said yesterday that it is ready to act in case of instability following &hellip;<\/p>\n","protected":false},"author":44,"featured_media":10675,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[7919,7920],"class_list":["post-26610","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-bangko-sentral","tag-forex","mauthors-lei-fontamillas","mauthors-philippine-canadian-inquirer"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/26610","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=26610"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/26610\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/10675"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=26610"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=26610"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=26610"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}