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The Bangko Sentral ng Pilipinas (BSP) is committed to enhancing the well-being of Filipinos through a financial system that addresses the funding needs of the public while managing risks.

There are many reasons why financial markets worldwide have been experiencing notable changes thus far in 2022. Among the pronounced developments is a strong US dollar, which is causing currencies like the Philippine peso to depreciate.

The BSP is taking steps to manage any disruption in our financial market. We look forward to servicing all legitimate dollar transactions. The US dollar spot market remains open and active while forwards and repos are available facilities.

All of these can move the economy forward by supporting the financial leg underpinning economic activity and allowing for an orderly settlement of US dollar obligations. This puts the Filipino in a better position.

We ask those who have the means not to take undue advantage of changing market conditions. This does not help the Philippine Peso; it does not help the Philippines. What we can do is to bring all transactions into an organized and accessible formal market that offers consumer protection.

Market conditions around the world are challenging. Working together allows us to sustain our functioning financial market while appropriately managing the developing risks. BSP