MANILA, June 4 (Reuters) – The Philippine central bank
is not intervening in the foreign exchange market everyday, but
is ready to take action when the peso is under stress, its
governor said on Tuesday.
The Bangko Sentral ng Pilipinas might intervene if the peso
veers towards the wrong direction, Governor Eli Remolona told a
forum.
“We intervene to express our own view where the peso
should be going,” Remolona said.
The Philippine peso has weakened past 58 per
dollar to be trading at its lowest levels in 19 months. So far
in 2024, the peso has fallen 5.8% against the dollar.
(Reporting by Mikhail Flores; Editing by John Mair)
