The Bangko Sentral ng Pilipinas has enough tools to manage large inflows of foreign capital so there is no need to impose new policies to restrict an influx of funds, Governor Amando Tetangco sai Wednesday.

''We have the necessary monetary tools at our disposal and the appropriate prudential measures on bank FX (foreign exchange) positions in place that there may be no need for us to come up with new measures to regulate FX flows,'' Tetangco said in an email sent on Wednesday.

''Nevertheless, we constantly review our fx regulations to ensure that these provide the correct incentives to attract foreign direct investments into the productive sectors of the economy.''

Higher capital inflows have resulted in currency appreciation mainly in emerging markets in Asia and Latin America, prompting central banks to adopt or study steps to control inflows.

Taiwan earlier this month banned foreign funds from investing in time deposits in what appeared to be aimed at deterring currency speculation, while Brazil last month slapped a 2 percent tax on capital inflows. (Reuters)