KWD to PKR / Dinar to PKR

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KWD to PKR / Dinar to PKR

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Philippine banks can transact directly with each other or through foreign exchange brokers. Through a broker, member banks may use telephone or even another electronic system such as Reuters Dealing. In order to make a deal through brokers, two banks that are members of the PDS must confirm their deal through the PDS.

PDS is served by the Telerate information system, which automatically collects information, which allows all member banks to easily track in real time the weighted average rate of the peso and the total volume of all transactions at any time of trading. Trading on PDS starts at 9.00 and ends at 16.00.

In the PDS system, the exchange rate is determined based on the ratio of supply and demand in the market. Banks continuously issue two-channel quotations with the usual spread of bid and ask prices for interbank transactions, equal to 0.005 pesos. The quoting bank undertakes to complete the transaction at the offered price, unless the price is changed or canceled prior to the transaction. At the same time, the banks that issue quotes remain anonymous.

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