Bangko Sentral ng Pilipinas

MANILA, Philippines – Foreign currency loans granted by banks edged lower in the first quarter, a decline that came before the outbreak of conflict in the Middle East roiled markets and weakened the peso.

Latest data from the Bangko Sentral ng Pilipinas (BSP) showed that outstanding loans handed out by foreign currency deposit units (FCDU) of banks had amounted to $15.44 billion in the three months ending in March, down 0.8 percent from the preceding quarter.

READ: PH foreign debt dipped in Q1 to $147.35B

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