The Bangko Sentral ng Pilipinas (BSP) said it has conducted six briefings on foreign exchange (FX) regulations across the country, following a series of FX liberalization reforms issued in recent years.

The BSP said the briefings which started in June 2024, were held in BSP branches in Batac, Ilocos Norte; Zamboanga City; Cagayan de Oro; Puerto Princesa, Palawan; Dumaguete, Negros Oriental; and Roxas, Capiz.

These were attended by local banks’ representatives, industry associations, exporters, and BSP branch personnel.

The BSP said the briefings also included presentations on recent economic developments and updates on Association of Southeast Asian Nations (ASEAN) monetary and financial cooperation and integration presented by the BSP’s Department of Economic Research and the International Relations and Surveillance Department, respectively.

The information campaign was spearheaded by the BSP’s International Monetary Affairs and Surveillance Sub-Sector and the International Operations Department.

The BSP also organized virtual FX briefings at its head office on Oct. 2 and 3, attended by banks’ compliance officers and representatives of industry associations.

"The conduct of FX briefings is in line with the BSP’s thrust to proactively engage its stakeholders on FX market rules and reforms, as well as promote awareness and uniform understanding on FX policy and recent developments," the BSP said. 

BSP PHOTO