Y2K Difficulties Addressed In Asia: Trading Limits Set
ASIAN NEWS
SINGAPORE--Local and foreign banks plan to limit foreign exchange trading in some Asian currencies over the two-week period around the year end to avoid possible Y2K related settlement issues.
The restrictions, which have been informally agreed upon, chiefly concern non-deliverable forwards (NDFs) for the Philippine peso, the Korean won and the Taiwan dollar that mature between December 24 and January 12.
Additionally some forward transactions in some regional currencies which had active offshore
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