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The Philippines, whose sovereign credit rating was upgraded to investment grade by two rating firms over the past two months, has been fighting the so-called hot-money inflows with several measures, including making it easier for locals to take money abroad and lowering a deposit rate for banks that do cross-border business.
WSJ: Asian Governments Take Measures to Battle Strong Currencies
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The Philippines, whose sovereign credit rating was upgraded to investment grade by two ratings firms over the past two months, has been fighting the so-called hot-money inflows with several measures, including making it easier for locals to take money abroad and lowering a deposit rate for banks that do cross-border business.
WSJ: Asian Governments Take Measures to Battle Strong Currencies
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Their deposit-taking more than matches their loan-making, and they keep a fifth of their deposits in reserve at the central bank.
ECONOMIST: Resilient China