Economy 1 MIN READ

Philippines says FX reserves more than enough to temper market volatility

March 6, 2022By Reuters

The Philippines’ central bank chief said on Sunday the country has more than adequate foreign exchange reserves to temper any market volatility, but that the impact on the local currency from the Russia-Ukraine conflict had so far been muted.

Governor Benjamin Diokno also said in a statement that the Bangko Sentral ng Pilipinas (BSP) has various liquidity-enhancing tools that can be deployed if the domestic liquidity situation becomes unexpectedly tight or disorderly.

(Reporting by Enrico Dela Cruz; Editing by Catherine Evans)


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