Philippines has increased inspection of the peso market used by offshore investors, The Wall Street Journal reports. The Philippine central bank, Bangko Sentral ng Pilipinas, has asked banks and trusts in the country to disclose nondeliverable-forwards (NDF) transactions daily. The daily reporting of peso NDF transactions will enable the central bank to keep a track whether banks are fulfilling its overbought and oversold limits for forex holdings. Banks and trust institutions in the Philippines were previously reporting their NDF transactions weekly.
Click here for the story from The Wall Street Journal.