{
    "success": true,
    "data": {
        "id": 1534029,
        "msgid": "rp-tightens-forex-rules-1447893297",
        "date": "1997-10-25 00:00:00",
        "title": "RP tightens forex rules",
        "author": null,
        "source": "AFP",
        "tags": null,
        "topic": null,
        "summary": "RP tightens forex rules MANILA (AFP): The Central Bank of the Philippines yesterday imposed tighter restrictions on banks' foreign exchange trading as part of a measure to counter speculation. Under the new rules, banks would have to inform the central bank within two banking days of the cancellation or non-delivery of any forward contracts. Violations will result in fines as well as temporary suspension of the offending bank's opening of new letters of credit.",
        "content": "<p>RP tightens forex rules<\/p>\n<p>MANILA (AFP): The Central Bank of the Philippines yesterday<br>\nimposed tighter restrictions on banks' foreign exchange trading<br>\nas part of a measure to counter speculation.<\/p>\n<p>Under the new rules, banks would have to inform the central<br>\nbank within two banking days of the cancellation or non-delivery<br>\nof any forward contracts.<\/p>\n<p>Violations will result in fines as well as temporary<br>\nsuspension of the offending bank's opening of new letters of<br>\ncredit.<\/p>\n<p>In the forward market, currencies are traded for delivery in<br>\nthe future, usually up to 12 months.<\/p>\n<p>The new rule is intended to force banks to recompute their<br>\ndaily net open position without including canceled or non-<br>\ndelivered forward contracts.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/rp-tightens-forex-rules-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}