Consumers’ pockets will experience slight reprieve this week, as oil prices will be on moderate rollback, according to the pricing advisories of the oil companies. The price of diesel products will be trimmed by P0.45 per liter; while gasoline prices will have marginal reduction of P0.25 per...
There will be extended financial relief for consumers at the pumps next week, as oil prices are anticipated to have moderate rollback, based on the computation of the oil companies. According to the industry players, the price of gasoline products will be trimmed by P0.60 to P1.00 per liter; while...
The Bangko Sentral ng Pilipinas (BSP) has assured congressmen that using the central bank's dividends on the proposed Maharlika Wealth Fund (MWF) would not have any adverse effects on its gross international reserves (GIR). (Giorgio Trovato/ Unsplash) BSP Deputy Governor Francisco Dakila Jr., made...
For more than six decades, one of the country’s leading pawnshops, Villarica has continuously served the Filipino public with a host of services that have evolved with the changing, and digital, times as well as the needs of the Filipinos. Boasting of having one of the highest, if not the highest...
The Bangko Sentral ng Pilipinas (BSP) has a net income of P34.51 billion as of end-November 2020, down from same period in 2019 of P40.24 billion. The BSP continued to report net foreign exchange (FX) losses of P5.67 billion, a reversal of the previous year’s P14.46 billion FX net...
The central bank incurred net foreign exchange (FX) losses of P4.55 billion as of end-September after a P6.13 billion realized losses in the third quarter due to fluctuations in FX rates from its foreign currency-denominated activity. The July to September net FX losses is the biggest for the...
The Bangko Sentral ng Pilipinas (BSP) is allowing universal and commercial banks to electronically submit six foreign exchange (FX) transaction documents to lessen risks of COVID-19 transmission in the handling of hardcopy. Based on a new memo (BSP Memorandum Order No. M-2020-089) that BSP Deputy...
In response to the current global and local economic and financial conditions, the Bangko Sentral ng Pilipinas (BSP) is amending its foreign exchange (FX) regulation to further streamline the reporting and documentary requirements for FX and trade transactions and the registration of foreign loans...
The central bank is proposing a new limit on banks’ net open foreign exchange (FX) positions or overbought and oversold positions to ensure market liquidity and to discourage speculative activity. In a draft circular, the Bangko Sentral ng Pilipinas (BSP) changed the allowable open FX position...
The central bank’s long positions in foreign exchange (FX) swaps went up by $1.67 billion in July to August after reviving activity in the second half this year. The Bangko Sentral ng Pilipinas’ (BSP) FX swaps increased to $4.49 billion in August from $2.82 billion in July, and from $1 billion...
Because of the pandemic and temporary suspension of some of its open market facilities, the Bangko Sentral ng Pilipinas (BSP) earned less in the second quarter, reducing its six-month net income to P13.714 billion or 54.1 percent lower than same time in 2019 of P29.883 billion. The BSP has been...
