MANILA, Philippines - To intervene in the peso's rapid rise, the central bank bought over $5 billion of foreign exchange (FX) in September and October, higher than its usual $500 to $1 billion dollar purchases per month to ease exchange rate volatility.A treasury report from the Bangko Se...
the first increase since August 2008, to contain inflation that accelerated to a nine-month high in February.The central bank is concerned that inflows from the forwards market are making foreign-exchange intervention more difficult for policy makers, said Marcelo Ayes, a senior vice president at...