Philippines to continue FX deregulation
Analysts welcomed the announcement. "The Philippines won't restrict inflow. It would destroy the FX market," said Thomas Harr, senior FX strategist at Standard Chartered in Singapore. "They don't want to follow what Thailand did. When Thailand restricted inflow it created an onshore, offshore market."
BSP officials said the bank is looking at reforms both of current and capital accounts. New regulations are expected to allow Filipino investors to invest abroad, lifting de facto restrictions on
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