BSP incurs P34B loss in tempering sharp rise of peso

MANILA, Philippines?The Bangko Sentral ng Pilipinas incurred a P34-billion loss from its foreign-exchange operations in the first half given upward pressures on the peso, which traders said could have even been stronger if not for the heavy dollar-buying by the central bank. Data from the latest financial statement of the BSP showed that the P34 billion in foreign-exchange losses in the first six months was a leap from P790 million in the same period in 2009. The latest…

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BSP incurs P34B loss in tempering sharp rise of peso