Philippines to target FX speculators

MARKET NEWS

MANILA -- The Philippine central bank (Bangko Sentral ng Pilipinas) last week outlined a series of penalties for banks partaking in aggressive FX speculation.

The new regulations are designed to ease FX market volatility, and class speculative trading as banks dealing currencies for capital gain without an underlying trade-related reason.

"The Bangko Sentral ng Pilipinas has noted the recent rise in incidents of transactions aggressively testing the boundaries of existing prudential

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