Recent Additions > Public Debt Management in Sri Lanka » Legal and Requlatory Reforms » Labor Reforms in Sri Lanka > Intellectual Pr t Silane > Import Procedure in Sri Lanka| » Free Trade Zone in Sr Lanka > Forsion Investments in This orice provides a bri overviw of foreign currency exchange market in Philippines. Home: Economy: Philippines: Foreign Exchange Market in Philippines Search Foreign Exchange Market in Philippines The Bangko Sentralng Pilipinas (BSP) maintains a floating exchange rate system. Exchange rates are determined on the basis of supply and demand in the foreign exchange market, The role of the BSP in the foreign exchange market is principally to ensure otderly conditions in the market. The market-determination of the exchange rate is consistent with the Government's commitment to market-orianted reforms and outward-looking strategies of achieving competitiveness through price stabilty and efficiency. In the Philippines, peso-dollar trading among Bankers Association of the Philippines (BAP) member-banks and between these banks and the BSP are done through the Philippine Dealing System (PDS). Most of the BAP-member banks which participate in the peso-dollar trading use an electronic platform called the Philippine Dealing and Exchange Corp. (PDEx). The BAP appointed PDEx as the official service provider for the US Dollar (USD) / Philippine Peso (PHP) spot trading (which involve the purchase or sale of the US dollar for immediate delivery, ie., within one day for US dollars), and Reuters, as the exclusive cistrioutor of all PDEx dala. Trading through the PDEx allows nearly instantaneous transmission of price information and trade confirmations. Meanwhile, banks which do not subscribe to PDEx can continue to deal peso-dollar spot transactions via their Reuters Dealing screens, ‘Commercial banks in the Philippines are allowed to engage in spot, outright forward, and swap transactions in Philippine pesosiUS dollar and other third currency transactions. Interbank trading is conducted among member-banks of the BAP, and between these banks and the BSP. Member-banks of the PDS can also deal through brokers. At present, there ‘are two foreign exchange brokers in the Philippines, Tulett Prebon (Philippines), Inc. and ICAP Philippines Inc. For third currency trading, most commercial banks use the Reuters Dealing and the Bloomberg Financial Services. ‘The US dollar and Philippine peso legs of the PDS transactions are settled in a Payment-versus-Payment (PvP) electronic system for the local interbank spot and forward foreign exchange market. The PvP links two realtime gross settlements systems- the BSP's Philippine Payments and Sottloments System (PhilPaSS) for the poso transactions and the Philippine Domestic Dollar Transfer System (PDDTS) for dollar transactions-with the Philippine Depository and Trust Corporation (PDTC) as designated clearing entity for peso- Home | Events | Economy | Submit your Event Banking and Finance in Philippines Industry in Philippines Infrastructure in Philippines Labor Laws in Philippines Philippines Budget 2009 Philippines Exports Philippines Imports Philippines Natural Resources Rogistering Businoss in Philippines Services Sector in Philippines Tax Structure in Philippines Philippines Economy Accounting System in Philppines Balance of Payments in Philippines Competition Poicy in Pitppines Corporate Governance in Philippines Currency of Pitippines ‘Dual Gtizenshio in Pilppines Economic Risk in Philipines Fixed Income Exchange Market in Pilipsines Foreian Exchange Market in Philipines GDP Of Pilipsines| [GNP of Pilpoines Human Rights in Piloines {Inflation in Piippines Labor Market in Philippines egal System in Philippines Philippines Monetary Policy Paltical Risks in Philippines Sovereign Risk in Philippinesdollar transactions of commercial banks under the BAP. The PDDTS is a local clearing and electronic communications system operated by the BAP, the Philippine Clearing House Corporation (PCHC), Philippine Securities and Settlements Comp. (PSSC) and Citibank, Manila. The PDDTS provides the ‘banking industry with a faclty to move US dollar funds from fone Philippine bank to another on the same day without having to go through correspondent banks in the US. The system allows online, real-time gross settlement of domestic interbank US dollar transfer and third party accountto- account US dollar transfers. In addition, it provides a facility for online inquiry and settlement of foreign exchange transactions, where the PDDTS participants enter interbank US dollar and Philippine peso transfer instruction in a single The PDS has both onine, real time and end-of-day batch netting transfer capabilities with final settlement on the same day. This compares favorably with the most sophisticated domestic funds transfer systems around the world in terms of specdiflexibiliy of delivery and settlement finality Disclaimer : The content on Trade shows/Exhibtions/Conferences given on this site is informative in nature and has been gathered from various sources. ‘We do not hak! any responsiblity of miscommunication or misinformation regarding the venue / date etc of the Trade show / Exhibitions/Conferences, ‘mentioned here. Kindly confirm the dates / venue etc of the Trade Fairs / Exhibitions/ Conferences from the relevant authorities for last minute changes. Economy: Indian Economy | Singapore Ecanomy | Malaysia Economy | Maurtus Economy | Sei Lanka Economy | Agriculture Sector in Si Lanka | Balance of Payments in Sri Lanka | Higher Education in Sri Lanka | Intellectual Property Rights in Sri Lanka | Macroeconomic Overview of Sri Lanka Copyright © : 2008 Trade Chakra Al rights reserved | Disclaimer | Contact us | Submit an Event