Philippine Central Bank Chief Calls Peso Intervention ‘Futile'

By and Prima Wirayani
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Philippine central bank Governor Eli Remolona said it's futile to intervene in the currency market to support the peso, which has fallen about 2% this month.
'It's futile to intervene when it's a strong dollar story driven by safe haven flows,' Remolona said in a mobile-phone message on Wednesday.

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