BSP Conducts Information Campaign on Foreign Exchange Regulations

The Bangko Sentral ng Pilipinas (BSP) has conducted six (6) briefings on foreign exchange (FX) regulations across the country following a series of FX liberalization reforms issued in recent years.

The FX briefings, which kicked off in June 2024, were held in BSP branches in the cities of Batac, Zamboanga, Cagayan de Oro, Puerto Princesa, Dumaguete, and Roxas and attended by local banks’ representatives, industry associations, exporters, and BSP branch personnel. This information campaign was spearheaded by the BSP’s International Monetary Affairs and Surveillance Sub-Sector and the International Operations Department.

Said 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 BSP also organized virtual FX briefings in the BSP Head Office on 02 to 03 October 2024. The virtual briefings were 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.