Taiwan’s central bank asked 65 banks for details of their foreign-currency lending to make sure exporters and importers aren’t using the loans to speculate on the local currency, an official at the monetary authority said.
Asian nations may undertake joint measures to prevent excessive speculation in their currencies, Thai Finance Minister Korn Chatikavanij said after the U.S. embarked on a second round of quantitative easing.
The yield on Philippine government bonds due 2019 approached a record low after central bank Governor Amando Tetangco said authorities were considering more measures to discourage investment in special-deposit accounts.
Philippine government bonds due 2019 advanced, pushing the yield to a record low, on speculation more investors will shift money to fixed-income securities from the central bank’s special-deposit accounts.
The Philippine peso declined for a fourth day, the longest stretch of losses this year, on concern the central bank will curb appreciation to support exports and shore up the value of remittances from overseas workers.