June 25, 2018, 10:05 am
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1 Philippine Peso = 0.06901 UAE Dirham
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1 Philippine Peso = 0.02524 Australian Dollar
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1 Philippine Peso = 0.07111 Brazilian Real
1 Philippine Peso = 0.01879 Bahamian Dollar
1 Philippine Peso = 1.28053 Bhutan Ngultrum
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1 Philippine Peso = 0.12218 Chinese Yuan
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1 Philippine Peso = 0.01879 Cuban Peso
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1 Philippine Peso = 0.92728 Dominican Peso
1 Philippine Peso = 2.1963 Algerian Dinar
1 Philippine Peso = 0.25225 Estonian Kroon
1 Philippine Peso = 0.33484 Egyptian Pound
1 Philippine Peso = 0.51146 Ethiopian Birr
1 Philippine Peso = 0.01612 Euro
1 Philippine Peso = 0.03918 Fiji Dollar
1 Philippine Peso = 0.01416 Falkland Islands Pound
1 Philippine Peso = 0.01417 British Pound
1 Philippine Peso = 0.08979 Ghanaian Cedi
1 Philippine Peso = 0.87956 Gambian Dalasi
1 Philippine Peso = 169.07178 Guinea Franc
1 Philippine Peso = 0.14072 Guatemala Quetzal
1 Philippine Peso = 3.87599 Guyana Dollar
1 Philippine Peso = 0.14741 Hong Kong Dollar
1 Philippine Peso = 0.44878 Honduras Lempira
1 Philippine Peso = 0.11882 Croatian Kuna
1 Philippine Peso = 1.24803 Haiti Gourde
1 Philippine Peso = 5.23224 Hungarian Forint
1 Philippine Peso = 264.43067 Indonesian Rupiah
1 Philippine Peso = 0.06764 Israeli Shekel
1 Philippine Peso = 1.27568 Indian Rupee
1 Philippine Peso = 22.24728 Iraqi Dinar
1 Philippine Peso = 798.38407 Iran Rial
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1 Philippine Peso = 2.45509 Jamaican Dollar
1 Philippine Peso = 0.01333 Jordanian Dinar
1 Philippine Peso = 2.06417 Japanese Yen
1 Philippine Peso = 1.89121 Kenyan Shilling
1 Philippine Peso = 1.28183 Kyrgyzstan Som
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1 Philippine Peso = 16.91094 North Korean Won
1 Philippine Peso = 20.86622 Korean Won
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1 Philippine Peso = 6.38595 Kazakhstan Tenge
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1 Philippine Peso = 0.1786 Moroccan Dirham
1 Philippine Peso = 0.3177 Moldovan Leu
1 Philippine Peso = 0.98891 Macedonian Denar
1 Philippine Peso = 25.98647 Myanmar Kyat
1 Philippine Peso = 45.97896 Mongolian Tugrik
1 Philippine Peso = 0.15183 Macau Pataca
1 Philippine Peso = 6.67042 Mauritania Ougulya
1 Philippine Peso = 0.65295 Mauritius Rupee
1 Philippine Peso = 0.29256 Maldives Rufiyaa
1 Philippine Peso = 13.4053 Malawi Kwacha
1 Philippine Peso = 0.37584 Mexican Peso
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1 Philippine Peso = 0.25239 Namibian Dollar
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1 Philippine Peso = 2.03401 Nepalese Rupee
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1 Philippine Peso = 0.01879 Panama Balboa
1 Philippine Peso = 0.06134 Peruvian Nuevo Sol
1 Philippine Peso = 0.0609 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.28222 Pakistani Rupee
1 Philippine Peso = 0.06966 Polish Zloty
1 Philippine Peso = 106.55769 Paraguayan Guarani
1 Philippine Peso = 0.06839 Qatar Rial
1 Philippine Peso = 0.07509 Romanian New Leu
1 Philippine Peso = 1.18236 Russian Rouble
1 Philippine Peso = 15.96073 Rwanda Franc
1 Philippine Peso = 0.07046 Saudi Arabian Riyal
1 Philippine Peso = 0.1479 Solomon Islands Dollar
1 Philippine Peso = 0.25235 Seychelles Rupee
1 Philippine Peso = 0.33738 Sudanese Pound
1 Philippine Peso = 0.16635 Swedish Krona
1 Philippine Peso = 0.02551 Singapore Dollar
1 Philippine Peso = 0.01417 St Helena Pound
1 Philippine Peso = 0.41725 Slovak Koruna
1 Philippine Peso = 149.94363 Sierra Leone Leone
1 Philippine Peso = 10.72905 Somali Shilling
1 Philippine Peso = 394.98309 Sao Tome Dobra
1 Philippine Peso = 0.16441 El Salvador Colon
1 Philippine Peso = 9.67644 Syrian Pound
1 Philippine Peso = 0.25202 Swaziland Lilageni
1 Philippine Peso = 0.61856 Thai Baht
1 Philippine Peso = 0.04882 Tunisian Dinar
1 Philippine Peso = 0.04333 Tongan paʻanga
1 Philippine Peso = 0.08786 Turkish Lira
1 Philippine Peso = 0.12682 Trinidad Tobago Dollar
1 Philippine Peso = 0.56924 Taiwan Dollar
1 Philippine Peso = 42.63435 Tanzanian Shilling
1 Philippine Peso = 0.49267 Ukraine Hryvnia
1 Philippine Peso = 72.51597 Ugandan Shilling
1 Philippine Peso = 0.01879 United States Dollar
1 Philippine Peso = 0.59451 Uruguayan New Peso
1 Philippine Peso = 147.50094 Uzbekistan Sum
1 Philippine Peso = 1499.4363 Venezuelan Bolivar
1 Philippine Peso = 430.10147 Vietnam Dong
1 Philippine Peso = 2.07159 Vanuatu Vatu
1 Philippine Peso = 0.0488 Samoa Tala
1 Philippine Peso = 10.56614 CFA Franc (BEAC)
1 Philippine Peso = 0.05073 East Caribbean Dollar
1 Philippine Peso = 10.56614 CFA Franc (BCEAO)
1 Philippine Peso = 1.92165 Pacific Franc
1 Philippine Peso = 4.69466 Yemen Riyal
1 Philippine Peso = 0.25241 South African Rand
1 Philippine Peso = 97.51033 Zambian Kwacha
1 Philippine Peso = 6.80008 Zimbabwe dollar

Behind wage, productivity clouds, world economy is booming

By JAIME MCGEEVER


LONDON- The dark clouds of stagnant wages, widening inequality and chronic productivity across much of the Western world are shrouding one of the most remarkable and easily forgotten facts of the year - the world economy is booming.

The value of all goods and services produced globally this year will be around $80 trillion, which is expected to grow by about 3.5 percent next year, possibly even nudging 4 percent for the first time since 2011.

Annual global growth of 4 percent or higher was in fact fairly common in the pre-crisis years. In the 11 years to 2007 that level was reached in seven, with three of those over 5 percent, according to the International Monetary Fund.

Growth of 4 percent next year would mean the creation of almost $3 trillion - the equivalent to the annual output of Britain, the world’s fifth-largest economy - that has to be put to work.

That’s almost $3 trillion, over and above the near $80 trillion of wealth already being produced, for consumers to spend, investors to buy financial market assets, and busi-nesses to expand, invest and hire.

It’s a huge sum, and dwarfs the large but diminishing stimulus being provided by central banks.

Policymakers are increasingly confident that world growth is now self-sustaining, hence their gradual withdrawal from the monetary stage.

“The global economy is in the midst of a mini-boom that started in mid-2016,” according to economists at Bank of America Merrill Lynch. They expect “solid” 3.8 percent global growth next year, up from 3.7 percent this year, with most major economies growing at or above potential.

Their counterparts at Barclays are even more bullish, anticipating that the “self-enforcing economiccycle” will deliver 4.0 percent global growth next year.

Good news, right?

The trouble is for an increasing number of people, even those in countries where growth is strong and unemployment has rarely been lower, it doesn’t feel like good news.

People are in work, as record levels of employment in the United States, United Kingdom, Germany and elsewhere show, but they don’t feel rich, confident or secure. Wages are stagnant.

Unemployment in the United States is 4.1 percent, down from a crisishigh of 10 percent in 2009. Annual wage growth in that time has averaged 2.2 percent and has never topped 3 percent, compared with a precrisis average well over 3 percent.

Wages in the euro zone are rising at almost half that rate, and at 1.4 percent currently have rarely grown more slowly.

Wages rose an average 2.3 percent a year precrisis and just 1.7 percent since, even as the unemployment rate has plunged from its 2013 peak.

Thanks to a mix of low wage growth and a surge in inflation since the 2016 Brexit referendum, workers in Britain are mired in the longest fall in living standards since the Second World War.

People are still feeling the effects of the deep austerity and spending cuts many Western governments pushed through after the 2008 crash in an attempt to repair their shattered public finances. - Reuters
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