Philippine Markets: 31 May 2011

31 May 2011

USD/PhP: 43.28 (As of 12:00pm) PSEi: 4,2244.64 - 50.60
USD/JPY: 81.15 PFINC: 945.17 - 4.93
EUR/USD: 1.4374 BDO: 58.50 +0.70
GBP/USD: 1.6545 BPI: 55.65 - 1.35
PDSTF3M: 2.6923 MBT: 69.00 - 0.35
Prices as of 4:00pm Source: Bloomberg, Reuters


Philippines Seeks More Information on FX Forwards, Tetangco Says
By Clarissa Batino

The Philippine central bank seeks to have a clearer picture
of the non-deliverable forward transactions “while maintaining a liberal policy framework,”
Governor Amando Tetangco said in a mobile phone message.

“We want to better understand the NDF market in terms of size, direction
and timing of transactions,” Tetangco said today. the central bank had
issued a memo requiring banks to submit a daily report on their peso forwards transactions.

BDO UNIBANK, INC.

Jonathan Ravelas
Chief Market Strategist
(632) 858-3145

Rhys Cruz
Junior Researcher
(632) 858-3001