USD/PHP Spot Rates PublicationPosted on: March 16, 2018
Please be advised that the Bankers Association of the Philippines (BAP) has issued an advisory to its Member Banks on 16 March 2018 that contains the following section regarding the new publication arrangements for FX USD/PHP Spot rates effective 01 April 2018, to wit:
The BAP likewise wishes to inform the market participants that the USD/PHP spot rates (the spot rate, the AM weighted average rate, the PM weighted average rate, the whole day weighted average) that will be reported by Bloomberg L.P. and published on Bloomberg Screen page in OTC<space>PHP and Bloomberg Screen FIXI effective April 1, 2018, will be calculated using the same methodology as the rates that are currently reported by the Philippine Dealing & Exchange Corp. (www.pds.com.ph) (and also published on Reuters Screen IPHPFIX=PDSP, Bloomberg Screen FIXI and Bloomberg Screen OTC PH) and the change is merely a change in nomenclature and page of publication and not a new fixing.
|Current Name||Effective April 1, 2018|
|PDS Spot||BAP Spot|
|PDS AM Weighted Average||BAP AM Weighted Average|
|PDS PM Weighted Average||BAP PM Weighted Average|
|PDS Weighted Average||BAP Weighted Average|
For your guidance and appropriate action. Should you have questions and/or clarifications on the enclosed FX Spot Guidelines, kindly email Ms. Pinky S. Padronia at email address email@example.com.”
For your reference a copy of the BAP advisory is attached.