The Bangko Sentral ng Pilipinas (BSP) assured its presence in the market as anticipation to the possible tapering of the United Stated Federal Reserve’s quantitative easing program affects the peso.
“As we understand it, the peso weakness over the past couple of days is partly due to real demand for specific import requirements and partly due to some portfolio adjustment of funds in reaction to Fed tapering concerns,” BSP Governor Amando Tetangco Jr., said in a text message.
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