![]() Policy setting has remained steady since the central bank raised rates by 25 basis points in September 2014. “The bottom line, the BSP has many options to maintain firm monetary control,” he said. The central bank lowered the reserve requirement to promote a more efficient and level financial system that is less biased against deposit-taking financial institutions, Espenilla said. Most economists forecast the Philippine peso to decline further versus the greenback by 20, falling from 54:1 to 55:1. Speculators, Espenilla said, are using the reduction as a factor that could dampen the peso. The rule, which will take effect in March, is expected to inject more than $1.5bn in liquidity. On February 16, the central bank cut banks’ reserve requirement ratio by one percentage point to 19 percent. Historically, the Philippine Peso reached an. “What BSP is executing is just an operational adjustment that should have a neutral effect on the monetary policy stance,” Espenilla told reporters, calling the fears of ensuing looser monetary policy “unfounded”. The USDPHP decreased 0.1470 or 0.26 to 55.5220 on Friday July 7 from 55.6690 in the previous trading session. ![]() The central bank chief also dispelled market concern that a cut in banks’ reserve requirement ratio would accelerate inflation, which hit four percent in January, the highest since October 2014. “BSP sells foreign exchange from its reserves to manage excessive peso volatility,” said BSP Governor Nestor Espenilla, adding that the tongue cancer he had been diagnosed with in November was successfully treated and he was closely monitoring the financial markets. At Myfin online currency converter you can find 30 USD to PHP chart, exchange rate stats and other historical info. The chief of the Bangko Sentral ng Pilipinas (BSP) sought to allay concern that recent market reforms would put more pressure on an already weak currency and stoke inflation. Currency Converter USD to PHP 30 USD to PHP 30 US Dollar to Philippine Peso 30 US Dollars is 1 658.22117 Philippine Pesos as of 11:48 PM 06-30-2023. Check out our exchange rates today Amount. ![]() The Philippine peso closed at an 11-year low at 52.34 pesos to the US dollar on Monday. Join 30+ million Revolut customers today and convert US Dollars to Philippine Pesos. The Philippines central bank is selling its dollar reserves as a defensive measure to manage excessive volatility driven by speculation against the peso, which is hovering near an 11-year low, the bank’s governor said on Sunday. ![]()
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