BSP Revises Discount Rates of 9 Currencies

Manila Bulletin, February 20, 2011 | Go to article overview

BSP Revises Discount Rates of 9 Currencies


MANILA, Philippines - The Bangko Sentral ng Pilipinas (BSP) is revising the discount rates applied to the buying rate of nine out of 17 foreign currencies including the British Pound and Swiss Francs in its reference exchange rate list to remain consistent with market rates.BSP's treasury department has submitted to the Monetary Board the review and the proposed adjustments to the discount rates for 2011.Based on the memo, the treasury department has proposed a reduction in the discount rate for the British Pound from 0.985 to 0.980 while the discount factor for the Swiss Francs will also decrease to 0.980 from 0.985.The BSP will tweak the discount rates for the two currencies to get to the lowest discount factor quoted in the past five years. But in the case of the Swiss Francs, the adjustment is because of the increased volatility in the Swiss currency.The BSP, in the meantime, will increase the discount rate of the Canadian Dollar by 0.010 and 0.005 for the Brunei Dollar, Saudi Arabian Rial, Bahrain Dinar, United Arab Emirates Dirham, Korean Won, and the Chinese Yuan.The memo explained that the increase will gradually align the discount factors to market rates. At the moment, officials noted that the discount rate for the buying rate of the currencies are lower by as much as 0.033 from the lowest discount factors quoted in the last five years for all currencies.The BSP is maintaining the discount factor for the US Dollar, the Japanese Yen, the Hong Kong Dollar, the Singapore Dollar, Australian Dollar, Euro, Thailand Baht, and the Indonesian Rupiah for this year. …

The rest of this article is only available to active members of Questia

Sign up now for a free, 1-day trial and receive full access to:

  • Questia's entire collection
  • Automatic bibliography creation
  • More helpful research tools like notes, citations, and highlights
  • Ad-free environment

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

BSP Revises Discount Rates of 9 Currencies
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Full screen

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited passage

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.