BPI Forex Corporation is a wholly-owned subsidiary of the Bank of the Philippine Islands (BPI) established in response to increasing foreign exchange demand following a liberalized foreign exchange environment in the country. It delivers hassle - free service and offers very attractive exchange rates for your currencies.Only BPI Forex Corporation can give you the best deal for your dollars, and for your other foreign currencies as well. With us, you will enjoy our very competitive bid and offer rates with the convenience of transacting with us in any of our forex stations located throughout Metro Manila, and through our branches and Express Banking Centers throughout the Philippines.
What products does BPI Forex Corporation offer?
Aside from the regular over-the-counter exchange of bank notes and coins, BPI Forex Corporation purchases and sells demand drafts, wire transfers and travellers checks of widely traded currencies.
Does BPI Forex Corporation only deal in US Dollars?
BPI Forex Corporation can also transact in other major currencies such as the Australian Dollar, Canadian Dollar, Euro, Japanese Yen, and many other foreign currencies.To view the complete list of currencies that are accepted, click here.
How do I avail of the services of BPI Forex Corporation?
You may call or visit our main office or any of our forex stations strategically located in the major commercial centers and financial districts in Metro Manila. Our friendly forex officers and tellers would be glad to serve you. You may also avail of our services at any of the BPI and BPI Family Savings Bank branches located around the Philippines..
Are there any restrictions as to the amount I can deal with BPI Forex?
There are no limits to the amount one can convert into pesos. For non-trade sales, one can purchase up to the maximum amount as prescribed by BSP, cumulative within 20 calendar day period. Only an application to Purchase Foreign Exchange is required to be accomplished. For trade-related sales, there are no limits to the amount and frequency that a client can transact. However, submission of additional documents per BSP is required..
Are there any documents required before transacting?
When converting funds to pesos, you need to accomplish an FX slip form. For non-trade purchases of foreign exchange currencies, a duly accomplished application to Purchase Foreign Exchange form shall be required. In both occasions, presentation of 2 Valid IDs is required. For trade purchases, the following requirements should be submitted to BPI Forex Corporation:
· Certified true copies of supporting documents
· Commercial Invoices
· Shipping Documents
· Duly accomplished and notarized application to Purchase Foreign Exchange form
The fundamental and/ or technical analysis part 2 of 2
At the same time one should not consider fundamental analysis just as an analysis of the economic situation in the country itself. A far bigger role in the FOREX market belongs to the expectations of the market participants and their assessment of these expectations. Various prognoses and bulletins, issued by the participants, have a strong influence on the expectations. Very often an effect of the so-called self-filfilling prophecy occurs when market players raise or lower the exchange rates according to the prognosis. But a deep and thorough fundamental analysis is available only for big banks with a staff of professional analysts and constant access to a wide field of information.
In spite of these different approaches, both forms of analyses complement one another. Traders who act on the basis of a fundamental analysis, have to consider some technical characteristics of the market (the main rates of support, such as resistance and resale), and supporters of the technical approach to the market must track the main news (interest rates, important political events).
The main merits of the FOREX market are:
In spite of these different approaches, both forms of analyses complement one another. Traders who act on the basis of a fundamental analysis, have to consider some technical characteristics of the market (the main rates of support, such as resistance and resale), and supporters of the technical approach to the market must track the main news (interest rates, important political events).
The main merits of the FOREX market are:
- The biggest number of participants and the largest volumes of transactions;
- Superior liquidity and speed of the market: transactions are conducted within a few seconds according to online quotes;
- The market works 24 hours a day, every working days;
- A trader can open a position for any period of time he wants;
- No fees, except for the difference between buying and selling prices;
- An opportunity to get a bigger profit that the invested sum;
- Qualified work in the FOREX market can become your main professional activity;
- You can make deals any time you like.
articles provide by: VIGRI Ltd.
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