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
More on Foreign Exchange
Average reported daily UK FX turnover hits record high
Daily turnover of $2,881bn in October 2019, up 2% from previous high of $2,821bn in April
PBoC injects 1.2 trillion yuan as markets plunge
Chinese central bank eases to support economy as coronavirus spreads; Q1 GDP growth could drop to 4%
Spot volumes on platforms resumed downward trend in 2019
But an uptick was seen in FX swaps and forwards submitted for settlement
PBoC extends market closure as coronavirus spreads rapidly
Chinese central bank extends interbank markets closure and vows to maintain ample liquidity
