April 22, 2018, 3:06 am
Facebook iconTwitter iconYouTube iconGoogle+ icon
1 Philippine Peso = 0.07053 UAE Dirham
1 Philippine Peso = 1.99923 Albanian Lek
1 Philippine Peso = 0.03418 Neth Antilles Guilder
1 Philippine Peso = 0.38677 Argentine Peso
1 Philippine Peso = 0.02467 Australian Dollar
1 Philippine Peso = 0.03418 Aruba Florin
1 Philippine Peso = 0.03841 Barbados Dollar
1 Philippine Peso = 1.59228 Bangladesh Taka
1 Philippine Peso = 0.03034 Bulgarian Lev
1 Philippine Peso = 0.00724 Bahraini Dinar
1 Philippine Peso = 33.62742 Burundi Franc
1 Philippine Peso = 0.0192 Bermuda Dollar
1 Philippine Peso = 0.02503 Brunei Dollar
1 Philippine Peso = 0.13175 Bolivian Boliviano
1 Philippine Peso = 0.06526 Brazilian Real
1 Philippine Peso = 0.0192 Bahamian Dollar
1 Philippine Peso = 1.26032 Bhutan Ngultrum
1 Philippine Peso = 0.18403 Botswana Pula
1 Philippine Peso = 384.48243 Belarus Ruble
1 Philippine Peso = 0.03837 Belize Dollar
1 Philippine Peso = 0.02421 Canadian Dollar
1 Philippine Peso = 0.01858 Swiss Franc
1 Philippine Peso = 11.41406 Chilean Peso
1 Philippine Peso = 0.12052 Chinese Yuan
1 Philippine Peso = 52.12791 Colombian Peso
1 Philippine Peso = 10.7778 Costa Rica Colon
1 Philippine Peso = 0.0192 Cuban Peso
1 Philippine Peso = 1.71039 Cape Verde Escudo
1 Philippine Peso = 0.39282 Czech Koruna
1 Philippine Peso = 3.39601 Djibouti Franc
1 Philippine Peso = 0.11551 Danish Krone
1 Philippine Peso = 0.94891 Dominican Peso
1 Philippine Peso = 2.1798 Algerian Dinar
1 Philippine Peso = 0.24262 Estonian Kroon
1 Philippine Peso = 0.33916 Egyptian Pound
1 Philippine Peso = 0.52276 Ethiopian Birr
1 Philippine Peso = 0.01551 Euro
1 Philippine Peso = 0.03865 Fiji Dollar
1 Philippine Peso = 0.01348 Falkland Islands Pound
1 Philippine Peso = 0.01349 British Pound
1 Philippine Peso = 0.08525 Ghanaian Cedi
1 Philippine Peso = 0.89975 Gambian Dalasi
1 Philippine Peso = 172.80584 Guinea Franc
1 Philippine Peso = 0.14089 Guatemala Quetzal
1 Philippine Peso = 3.95007 Guyana Dollar
1 Philippine Peso = 0.15072 Hong Kong Dollar
1 Philippine Peso = 0.45249 Honduras Lempira
1 Philippine Peso = 0.11491 Croatian Kuna
1 Philippine Peso = 1.24505 Haiti Gourde
1 Philippine Peso = 4.8093 Hungarian Forint
1 Philippine Peso = 264.60534 Indonesian Rupiah
1 Philippine Peso = 0.06739 Israeli Shekel
1 Philippine Peso = 1.26727 Indian Rupee
1 Philippine Peso = 22.73862 Iraqi Dinar
1 Philippine Peso = 806.60649 Iran Rial
1 Philippine Peso = 1.91031 Iceland Krona
1 Philippine Peso = 2.37565 Jamaican Dollar
1 Philippine Peso = 0.01361 Jordanian Dinar
1 Philippine Peso = 2.06171 Japanese Yen
1 Philippine Peso = 1.92145 Kenyan Shilling
1 Philippine Peso = 1.32194 Kyrgyzstan Som
1 Philippine Peso = 76.97331 Cambodia Riel
1 Philippine Peso = 7.61206 Comoros Franc
1 Philippine Peso = 17.28442 North Korean Won
1 Philippine Peso = 20.40042 Korean Won
1 Philippine Peso = 0.00575 Kuwaiti Dinar
1 Philippine Peso = 0.01575 Cayman Islands Dollar
1 Philippine Peso = 6.25043 Kazakhstan Tenge
1 Philippine Peso = 158.93989 Lao Kip
1 Philippine Peso = 28.9034 Lebanese Pound
1 Philippine Peso = 2.99693 Sri Lanka Rupee
1 Philippine Peso = 2.50451 Liberian Dollar
1 Philippine Peso = 0.22892 Lesotho Loti
1 Philippine Peso = 0.05855 Lithuanian Lita
1 Philippine Peso = 0.01192 Latvian Lat
1 Philippine Peso = 0.02543 Libyan Dinar
1 Philippine Peso = 0.17577 Moroccan Dirham
1 Philippine Peso = 0.31452 Moldovan Leu
1 Philippine Peso = 0.94968 Macedonian Denar
1 Philippine Peso = 25.52333 Myanmar Kyat
1 Philippine Peso = 45.86134 Mongolian Tugrik
1 Philippine Peso = 0.15521 Macau Pataca
1 Philippine Peso = 6.76013 Mauritania Ougulya
1 Philippine Peso = 0.64144 Mauritius Rupee
1 Philippine Peso = 0.29902 Maldives Rufiyaa
1 Philippine Peso = 13.70175 Malawi Kwacha
1 Philippine Peso = 0.35007 Mexican Peso
1 Philippine Peso = 0.07459 Malaysian Ringgit
1 Philippine Peso = 0.22915 Namibian Dollar
1 Philippine Peso = 6.87536 Nigerian Naira
1 Philippine Peso = 0.59554 Nicaragua Cordoba
1 Philippine Peso = 0.14884 Norwegian Krone
1 Philippine Peso = 2.01652 Nepalese Rupee
1 Philippine Peso = 0.02629 New Zealand Dollar
1 Philippine Peso = 0.00739 Omani Rial
1 Philippine Peso = 0.0192 Panama Balboa
1 Philippine Peso = 0.06176 Peruvian Nuevo Sol
1 Philippine Peso = 0.06241 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.21836 Pakistani Rupee
1 Philippine Peso = 0.06459 Polish Zloty
1 Philippine Peso = 106.04187 Paraguayan Guarani
1 Philippine Peso = 0.0699 Qatar Rial
1 Philippine Peso = 0.07223 Romanian New Leu
1 Philippine Peso = 1.16816 Russian Rouble
1 Philippine Peso = 16.22066 Rwanda Franc
1 Philippine Peso = 0.07202 Saudi Arabian Riyal
1 Philippine Peso = 0.14768 Solomon Islands Dollar
1 Philippine Peso = 0.25792 Seychelles Rupee
1 Philippine Peso = 0.34667 Sudanese Pound
1 Philippine Peso = 0.161 Swedish Krona
1 Philippine Peso = 0.02513 Singapore Dollar
1 Philippine Peso = 0.01349 St Helena Pound
1 Philippine Peso = 0.42646 Slovak Koruna
1 Philippine Peso = 146.53351 Sierra Leone Leone
1 Philippine Peso = 10.79316 Somali Shilling
1 Philippine Peso = 380.06338 Sao Tome Dobra
1 Philippine Peso = 0.16804 El Salvador Colon
1 Philippine Peso = 9.89015 Syrian Pound
1 Philippine Peso = 0.22917 Swaziland Lilageni
1 Philippine Peso = 0.599 Thai Baht
1 Philippine Peso = 0.04602 Tunisian Dinar
1 Philippine Peso = 0.04292 Tongan paʻanga
1 Philippine Peso = 0.07736 Turkish Lira
1 Philippine Peso = 0.12961 Trinidad Tobago Dollar
1 Philippine Peso = 0.56365 Taiwan Dollar
1 Philippine Peso = 43.7488 Tanzanian Shilling
1 Philippine Peso = 0.50259 Ukraine Hryvnia
1 Philippine Peso = 70.84694 Ugandan Shilling
1 Philippine Peso = 0.0192 United States Dollar
1 Philippine Peso = 0.54158 Uruguayan New Peso
1 Philippine Peso = 154.65719 Uzbekistan Sum
1 Philippine Peso = 1139.831 Venezuelan Bolivar
1 Philippine Peso = 437.43038 Vietnam Dong
1 Philippine Peso = 2.00538 Vanuatu Vatu
1 Philippine Peso = 0.04922 Samoa Tala
1 Philippine Peso = 10.16881 CFA Franc (BEAC)
1 Philippine Peso = 0.05185 East Caribbean Dollar
1 Philippine Peso = 10.16881 CFA Franc (BCEAO)
1 Philippine Peso = 1.83983 Pacific Franc
1 Philippine Peso = 4.79931 Yemen Riyal
1 Philippine Peso = 0.2292 South African Rand
1 Philippine Peso = 99.66391 Zambian Kwacha
1 Philippine Peso = 6.95026 Zimbabwe dollar

China elects key economic team

BEIJING- China elevated a key confidante of President Xi Jinping to one of the top positions in government on Monday as Beijing cracks down on riskier financing and a debt to reduce systemic risks to the world’s second-largest economy.

The election of Liu He by parliament to be a vice premier also comes as the United States presses China to cut its trade surplus by $100 billion. Harvard-educated Liu, 66, was the most prominent envoy to visit Washington recently in a bid to prevent the outbreak of a trade war.

While most of the personnel changes on the economic team were widely anticipated, the choice of Yi Gang to take over as the new head of the People’s Bank of China (PBOC) was unexpected.

Yi is a vice governor of PBOC and a protege of outgoing chief Zhou Xiaochuan. His appointment is seen as pointing to continuity in monetary policy even as one of the world’s biggest central banks is gaining considerable new regulatory power.

The head of a newly merged banking and insurance regulator is expected to be announced on Monday. Reform-minded Guo Shuqing, 61, the current chair of the China Banking Regulatory Commission, is viewed as the top candidate to play that role.

The chief of a powerful new competition and food safety regulator will also be unveiled. 

As Xi begins his second five-year term as president, Beijing is streamlining regulators and ministries to cut inefficiencies while expanding the remit of others such as the central bank to boost their policymaking powers.

“China’s ministries are giant, nationwide siloes and fiefdoms that never talk to one another. Hence, in order to accomplish anything major, the command must come from the top down; only they can get ministries to work together,” Cliff Tan, east Asian head of global markets research at Bank of Tokyo-Mitsubishi UFJ, said in a note.

“Such a setup nearly guarantees the continuation of power that is never devolved, otherwise nothing would get done.”

Liu has a deep understanding of the country’s economic issues, and was elected last October into the 25-member Politburo, the second-highest tier in Beijing’s political power structure after the seven-member Politburo Standing Committee,

Liu won a top Chinese economics study award in 2015 for his research on the global financial crisis, and is widely seen as masterminding Xi’s supply-side reforms which are cutting excess factory capacity and pivoting the economy away from low-value industries.

Liu, who speaks fluent English, gained a master’s degree in public administration at Harvard’s Kennedy School of Government in 1995.

He had been the head of the General Office of the ruling Communist Party’s Central Leading Group for Financial and Economic Affairs and a vice minister of the National Development and Reform Commission (NDRC) - China’s top economic planner.

US-educated Yi Gang, 60, has been vice PBOC governor since 2008. He is seen as instrumental in steering monetary and currency policy, including the landmark devaluation of the yuan in 2015 and more recently a tightening in capital controls.

The PBOC and other regulators are trying to rein in risks from an increasingly complex financial system and a rapid build-up in debt without jolting markets or hurting economic growth.

“The main task right now is to implement prudent monetary policy, push forward financial sector reform and opening up, and keep the financial sector stable,” Yi told reporters on the sidelines of Monday’s parliament session at the Great Hall of the People.

But Yi is not regarded as a heavyweight like his boss Zhou, and he may play a supportive role with Liu overseeing the economy and finance sector on the whole, some economists say.

“Frankly speaking, (Yi’s nomination is) a bit unexpected as he holds a relatively low political ranking as the alternative member of CPC Central Committee,” said Tommy Xie, China economist at OCBC Bank in Singapore.

The Central Committee is the largest of the party’s elite decision-making bodies, and is made up of 204 full members and about 170 alternate members.

“In terms of implication, we see policy continuation as Yi will support Liu He to drive economic reform. Both are the main driver to China’s reform in the past few years,” Xie said.

Yi, one of the highest-ranking “sea turtles” - a colloquialism for Chinese returning from overseas - has a PhD in economics from the University of Illinois. He was also the head of the State Administration of Foreign Exchange (SAFE) from 2009 to 2016.

With Yi’s background and his reputation of being pro-reform, his nomination would be good news for foreign investors, Xie also said.

Zhou, 70, who is China’s longest-running central bank head, having taken the job in 2002, is expected to announce his retirement soon.

Separately, Liu Kun, head of the budget office of parliament, was elected to be the new finance minister, replacing Xiao Jie. Liu was formerly a vice finance minister.

Zhong Shan was re-elected as the commerce minister. He Lifeng was also re-elected as the head of NDRC. – Reuters 
Category: 
Rating: 
No votes yet