Philippines says it's open to tweaking FX rules to shield peso

MANILA (Bloomberg): The Philippine central bank said it can adjust foreign-exchange policies to help curb speculation, highlighting readiness to respond to inflation threats even as the peso has pared losses recently.

Dollar purchases believed to be "speculative,” or those without underlying client transactions, were observed to have increased and were adding pressure on the peso, Bangko Sentral ng Pilipinas said in an email on Friday. It responded to questions sent Oct 17 when the peso hit anew a record-low 59 per dollar.