For example, the BPI economist mentioned that beginning November 2010, the peso moved within a tight band as Tetangco tried to maintain the peso within the cozy center.
“In instances of immoderate peso appreciation (2012), Tetango held the deluge of overseas price range to help protect the 40 manage. Throughout the last few years we’ve witnessed the equal narrative of BSP protecting on each the pinnacle aspect and the lowest to build on GIR in excellent instances and to flood the market with forex liquidity to calm depreciation swoons,” he said.
Tetangco’s distinctive feature of constructing the defenses early on pays dividends now that wintry weather is here, Mapa referred to.
“Expect Tetangco to lodge to heavy foreign exchange presence in the following couple of weeks to keep the peso from straying too a ways from the proverbial middle of the local p.C.,” he said.
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