Philippine central bank warns against currency speculation

The Philippine central bank on October 4 warned currency speculators not to “take undue advantage” of the peso, as the currency weakened further against a strong US dollar. “We ask those who have the means not to take undue advantage of changing market conditions. This does not help the Philippine peso; it does not help the Philippines,” the Central Bank of the Philippines (BSP) said in a statement. “What we can do is to bring all transactions into an organized and accessible formal market.

Reference: https://www.centralbanking.com/central-banks/financial-stability/7953307/philippine-central-bank-warns-against-currency-speculation