Rules issued for hedging facility

Monetary authorities have issued enhanced guidelines for a hedging facility aimed at preventing currency speculation among businesses and easing demand pressure on the peso-dollar exchange rate.

The Currency Rate Risk Protection Program (CRPP), which the Bangko Sentral ng Pilipinas (BSP) reactivated earlier this month as the peso hit new lows against the greenback, will be offered through universal/commercial banks for clients seeking to hedge future foreign exchange exposures.