Philippines mulls won-peso bilateral trading

Move aimed at shifting trades away from US dollar


The Philippines may seek to set up a bilateral trading arrangement for the peso and the Korean won, as well as for the yen and some Association of Southeast Asian Nations (Asean) currencies, according to Central Bank of the Philippines governor, Benjamin Diokno. The move follows a deal with China last year for peso-renminbi bilateral trading and settlement.

“Maybe the next country that will ask for a bilateral arrangement will be South Korea, because there are many Koreans in the Philippines

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