The BSP will launch in July an FX sub-section in the BSP Website containing information on FX rules, guidelines, procedures, processes and other related concerns. The public can access the FX sub-section in the BSP website under the “Regulation” section.
The FX sub-section was developed in line with the BSP’s thrust to capitalize on the use of technology in further improving its services to the public and to promote public awareness on FX rules. The FX sub-section aims to: (a) provide stakeholders with an easily searchable webpage on FX-related matters that will serve, among others, as a communication channel between the BSP and its clients and repository of downloadable forms, annexes, appendices and other relevant documents; (b) address the information asymmetry between BSP and its stakeholders; (c) minimize over the phone inquiries; and (d) reduce clients’ search costs or the time, energy and money expended in researching relevant FX rules for their transactions.
The FX sub-section will benefit public and private sector entities, overseas Filipinos and their families, and small and medium enterprises that need information on FX rules as well as related procedures on how to undertake their respective FX transactions.