BSP to underscore measures for external competitiveness

The Bangko Sentral ng Pilipinas (BSP) will underscore its measures on gearing up for external competitiveness through a conference held at Seda Capitol Central Hotel in Bacolod City today, May 15, 2018.

The BSP, in its website, said the Conference on Gearing Up for External Competitiveness (CGUEC) is one of the key components of its Economic and Financial Learning Program.

It aims to promote awareness of exporters or importers and other sectors exposed to foreign exchange risks about the benefits of hedging, and how these foreign exchange risks could be managed through the use of derivatives.

Also, the conference will serve as a venue to present other determinants of external competitiveness such as quality of products, technology, and market size, the agency said.

The program specifically targets exporters, importers, organizations of overseas Filipinos, business process outsourcing entities, foreign currency deposit unit borrowers and other users of foreign exchange funds, it added.

The conference in Bacolod City will be attended by top officials of the BSP headed by Deputy Governor Diwa Guinigundo.

It includes presentation on the outlook for the global economic environment, exchange rate trends and issues, and staying competitive highlighting selected country experiences.

There will also be sessions on topics like Introduction to Hedging: Managing Foreign Exchange Risk, and Regulatory Framework on Hedging, among others.