However, the peso appreciated versus the US dollar after the Philippines' central bank, the Bangko Sentral ng Pilipinas (BSP), raised interest rates on May 18. On May 24, the USD to PHP exchange rate was 53.27. Despite this, the USD to PHP exchange rate was 8.8% higher than in the sa...
At the MB policy meeting today, we decided to keep the interest rate on the BSP’s overnight reverse repurchase facility at 6.25 percent. The interest rates on the overnight deposit and lending facilities were thus retained at 5.75 percent and 6.75 percent, respectively. ...