Following the outflow of portfolio capital away from emerging markets in the first quarter, the Bangko Sentral ng Pilipinas believes there is scope to further increase the amount of the currency swap arrangement among Asean+3 countries.
The dollar edged higher in Asia on Monday as investors track events in Eastern Europe after Crimeans voted to break away from Ukraine and join Russia, sparking threats of sanctions from the West.
The dollar traded higher against major currencies in Asia on Wednesday following another batch of solid US economic data.
The dollar Monday fell against most major currencies as investors took profits following last week’s announcement that the US Federal Reserve will soon scale back monetary stimulus.
The dollar weakened in Asia Monday ahead of a raft of US economic data that will provide a better idea of the future of the Federal Reserve’s stimulus program.