Philippine central bank mulls rule change for peso forwards

Rumours that the restrictions -- which prevent the trading of forwards of above six months -- would be lifted had been increasing over the past few weeks.

Market participants polled by FX Week said any relaxation of the six-month rule would be positive for the market, although its impact may be limited. "A withdrawal of the six-month limit would help develop the local capital markets," said Eddie Listorti, head of forex sales at Dresdner Kleinwort Wasserstein in Singapore. "However, it is un