• The Bangko Sentral ng Pilipinas (BSP) may further relax its rules and regulations governing foreign exchange transactions in a bid to attract more foreign investments into the country.
  • A draft circular on the proposed amendments to foreign exchange regulations covering foreign investments is being circulated.
  • For one, the BSP plans to waive the charge on the registration of foreign, foreign currency loans, inward investments, and other foreign exchange transactions.
  • On the sale of foreign exchange for non-trade current account transactions of residents with non-residents, the BSP may allow the sale of foreign exchange by authorized agent banks without need for prior central bank approval to cover payments for non-trade current account transactions.