February 26, 2018, 5:33 am
Facebook iconTwitter iconYouTube iconGoogle+ icon
1 Philippine Peso = 0.0709 UAE Dirham
1 Philippine Peso = 2.0666 Albanian Lek
1 Philippine Peso = 0.03436 Neth Antilles Guilder
1 Philippine Peso = 0.38512 Argentine Peso
1 Philippine Peso = 0.0246 Australian Dollar
1 Philippine Peso = 0.03436 Aruba Florin
1 Philippine Peso = 0.03861 Barbados Dollar
1 Philippine Peso = 1.59981 Bangladesh Taka
1 Philippine Peso = 0.0307 Bulgarian Lev
1 Philippine Peso = 0.00727 Bahraini Dinar
1 Philippine Peso = 33.8027 Burundi Franc
1 Philippine Peso = 0.01931 Bermuda Dollar
1 Philippine Peso = 0.02544 Brunei Dollar
1 Philippine Peso = 0.13243 Bolivian Boliviano
1 Philippine Peso = 0.06249 Brazilian Real
1 Philippine Peso = 0.01931 Bahamian Dollar
1 Philippine Peso = 1.24035 Bhutan Ngultrum
1 Philippine Peso = 0.18341 Botswana Pula
1 Philippine Peso = 386.48649 Belarus Ruble
1 Philippine Peso = 0.03857 Belize Dollar
1 Philippine Peso = 0.02437 Canadian Dollar
1 Philippine Peso = 0.01807 Swiss Franc
1 Philippine Peso = 11.38996 Chilean Peso
1 Philippine Peso = 0.12225 Chinese Yuan
1 Philippine Peso = 54.88417 Colombian Peso
1 Philippine Peso = 10.92317 Costa Rica Colon
1 Philippine Peso = 0.01931 Cuban Peso
1 Philippine Peso = 1.73147 Cape Verde Escudo
1 Philippine Peso = 0.39788 Czech Koruna
1 Philippine Peso = 3.41371 Djibouti Franc
1 Philippine Peso = 0.11689 Danish Krone
1 Philippine Peso = 0.94363 Dominican Peso
1 Philippine Peso = 2.19764 Algerian Dinar
1 Philippine Peso = 0.24563 Estonian Kroon
1 Philippine Peso = 0.34054 Egyptian Pound
1 Philippine Peso = 0.5251 Ethiopian Birr
1 Philippine Peso = 0.0157 Euro
1 Philippine Peso = 0.03853 Fiji Dollar
1 Philippine Peso = 0.01381 Falkland Islands Pound
1 Philippine Peso = 0.01382 British Pound
1 Philippine Peso = 0.08607 Ghanaian Cedi
1 Philippine Peso = 0.90347 Gambian Dalasi
1 Philippine Peso = 173.55213 Guinea Franc
1 Philippine Peso = 0.14162 Guatemala Quetzal
1 Philippine Peso = 3.93494 Guyana Dollar
1 Philippine Peso = 0.15101 Hong Kong Dollar
1 Philippine Peso = 0.45448 Honduras Lempira
1 Philippine Peso = 0.11653 Croatian Kuna
1 Philippine Peso = 1.23243 Haiti Gourde
1 Philippine Peso = 4.90965 Hungarian Forint
1 Philippine Peso = 263.76448 Indonesian Rupiah
1 Philippine Peso = 0.06723 Israeli Shekel
1 Philippine Peso = 1.25268 Indian Rupee
1 Philippine Peso = 22.85714 Iraqi Dinar
1 Philippine Peso = 718.33978 Iran Rial
1 Philippine Peso = 1.93822 Iceland Krona
1 Philippine Peso = 2.4222 Jamaican Dollar
1 Philippine Peso = 0.01364 Jordanian Dinar
1 Philippine Peso = 2.0617 Japanese Yen
1 Philippine Peso = 1.96236 Kenyan Shilling
1 Philippine Peso = 1.311 Kyrgyzstan Som
1 Philippine Peso = 76.94981 Cambodia Riel
1 Philippine Peso = 7.70077 Comoros Franc
1 Philippine Peso = 17.37452 North Korean Won
1 Philippine Peso = 20.76255 Korean Won
1 Philippine Peso = 0.00578 Kuwaiti Dinar
1 Philippine Peso = 0.01583 Cayman Islands Dollar
1 Philippine Peso = 6.1749 Kazakhstan Tenge
1 Philippine Peso = 159.87839 Lao Kip
1 Philippine Peso = 29.06178 Lebanese Pound
1 Philippine Peso = 2.99421 Sri Lanka Rupee
1 Philippine Peso = 2.50386 Liberian Dollar
1 Philippine Peso = 0.22268 Lesotho Loti
1 Philippine Peso = 0.05886 Lithuanian Lita
1 Philippine Peso = 0.01198 Latvian Lat
1 Philippine Peso = 0.0257 Libyan Dinar
1 Philippine Peso = 0.1777 Moroccan Dirham
1 Philippine Peso = 0.32037 Moldovan Leu
1 Philippine Peso = 0.96332 Macedonian Denar
1 Philippine Peso = 25.79151 Myanmar Kyat
1 Philippine Peso = 46.1583 Mongolian Tugrik
1 Philippine Peso = 0.15547 Macau Pataca
1 Philippine Peso = 6.75676 Mauritania Ougulya
1 Philippine Peso = 0.63514 Mauritius Rupee
1 Philippine Peso = 0.29614 Maldives Rufiyaa
1 Philippine Peso = 13.77317 Malawi Kwacha
1 Philippine Peso = 0.35764 Mexican Peso
1 Philippine Peso = 0.07562 Malaysian Ringgit
1 Philippine Peso = 0.22261 Namibian Dollar
1 Philippine Peso = 6.9112 Nigerian Naira
1 Philippine Peso = 0.59556 Nicaragua Cordoba
1 Philippine Peso = 0.15133 Norwegian Krone
1 Philippine Peso = 1.99853 Nepalese Rupee
1 Philippine Peso = 0.02647 New Zealand Dollar
1 Philippine Peso = 0.00743 Omani Rial
1 Philippine Peso = 0.01931 Panama Balboa
1 Philippine Peso = 0.06266 Peruvian Nuevo Sol
1 Philippine Peso = 0.06071 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.13127 Pakistani Rupee
1 Philippine Peso = 0.06552 Polish Zloty
1 Philippine Peso = 107.39382 Paraguayan Guarani
1 Philippine Peso = 0.07027 Qatar Rial
1 Philippine Peso = 0.07302 Romanian New Leu
1 Philippine Peso = 1.08832 Russian Rouble
1 Philippine Peso = 16.23803 Rwanda Franc
1 Philippine Peso = 0.07239 Saudi Arabian Riyal
1 Philippine Peso = 0.14989 Solomon Islands Dollar
1 Philippine Peso = 0.25792 Seychelles Rupee
1 Philippine Peso = 0.34575 Sudanese Pound
1 Philippine Peso = 0.15762 Swedish Krona
1 Philippine Peso = 0.02545 Singapore Dollar
1 Philippine Peso = 0.01382 St Helena Pound
1 Philippine Peso = 0.42869 Slovak Koruna
1 Philippine Peso = 147.2973 Sierra Leone Leone
1 Philippine Peso = 10.84942 Somali Shilling
1 Philippine Peso = 384.74904 Sao Tome Dobra
1 Philippine Peso = 0.16892 El Salvador Colon
1 Philippine Peso = 9.9417 Syrian Pound
1 Philippine Peso = 0.22262 Swaziland Lilageni
1 Philippine Peso = 0.60579 Thai Baht
1 Philippine Peso = 0.04633 Tunisian Dinar
1 Philippine Peso = 0.04271 Tongan paʻanga
1 Philippine Peso = 0.07317 Turkish Lira
1 Philippine Peso = 0.12974 Trinidad Tobago Dollar
1 Philippine Peso = 0.56444 Taiwan Dollar
1 Philippine Peso = 43.35907 Tanzanian Shilling
1 Philippine Peso = 0.52008 Ukraine Hryvnia
1 Philippine Peso = 70.40541 Ugandan Shilling
1 Philippine Peso = 0.01931 United States Dollar
1 Philippine Peso = 0.54923 Uruguayan New Peso
1 Philippine Peso = 157.72201 Uzbekistan Sum
1 Philippine Peso = 558.39769 Venezuelan Bolivar
1 Philippine Peso = 438.97684 Vietnam Dong
1 Philippine Peso = 2.05502 Vanuatu Vatu
1 Philippine Peso = 0.04818 Samoa Tala
1 Philippine Peso = 10.28822 CFA Franc (BEAC)
1 Philippine Peso = 0.05212 East Caribbean Dollar
1 Philippine Peso = 10.28822 CFA Franc (BCEAO)
1 Philippine Peso = 1.87297 Pacific Franc
1 Philippine Peso = 4.82336 Yemen Riyal
1 Philippine Peso = 0.22278 South African Rand
1 Philippine Peso = 100.1834 Zambian Kwacha
1 Philippine Peso = 6.98649 Zimbabwe dollar

Dollar plays crucial role on global trade growth

By Jamie McGeever

LONDON- Hardening White House language on protectionism and free trade poses a growing risk to world trade, so the current narrative goes, but there are good reasons to believe upward momentum in global commerce will accelerate into next year.

Crucial to how this plays out will be the dollar.

A weaker dollar is generally associated with an upturn in global trade, while a strengthening dollar correlates with fading trade momentum, according to Oxford Economics, a think tank.

The vast bulk of world trade is denominated in dollars, even among countries who don’t use it as their main currency. A weaker dollar is more attractive for a company or country looking to finance trade operations.

It also eases global financing conditions, boosting demand for and access to cross-border capital flows. This is most pertinent to emerging markets, where the expansion of trade activity and dollar borrowing has been strongest.

The dollar has been on a rollercoaster in recent years. It rose 30 percent between mid-2014 and the end of last year as the US economy outperformed its peers, and financial markets prepared for higher US interest rates.

It’s down 9 percent this year as investors have lowered their expectations of how far the Federal Reserve will tighten policy and of how much progress President Donald Trump will make on infrastructure spending and banking, regulation and tax reform.

Oxford Economics has plotted an inverse relationship between the dollar and world trade since 2001. It’s been pretty tight. Global trade, despite the sabre-rattling, is growing at its fastest rate since 2010.

“Further depreciation in the dollar will help sustain this trade momentum,” said Marion Amiot at Oxford Economics.

The dollar could continue falling: the Fed looks close to the end of its tightening cycle, other central banks may soon narrow the dollar’s rate advantage, and US growth is no longer going full tilt.

On the other hand, bets on the dollar weakening are already the biggest in years by some measures, and the stand-off between the United States and North Korea could boost the dollar’s allure as the safest and most liquid port in a global storm.

Like the dollar, world trade is at something of an inflection point. The latest trade figures from China, Germany and Britain show that activity in June and July was much softer than economists had expected.

As a share of overall global economic output, trade fell over five consecutive years between 2012 and 2016 to 21 percent from 25 percent. This partially reversed the rise between 1991 and 2008 from 14 percent to 25 percent, and fuelled talk that globalization had peaked, especially given the rise of economic nationalism and protectionism in many countries recently.

Last November, economists at Deutsche Bank argued that the wave of globalization since the Second World War was turning and that a new “mega-trend” was under way: “the peak, and likely unwind of globalization”.

They also noted that the number of new free trade agreements signed in 2016 was the lowest in three decades, another sign that global commerce has peaked.

And the international mood music is far from cheery. German Foreign Minister Sigmar Gabriel said last month it was a cause of “great concern” that the United States could start a trade war with Europe, while tension between Washington and Beijing has escalated.

This month, US senators from both sides of the house have urged Trump to stand up to China as he prepares to launch an inquiry into its intellectual property and trade practices. In addition, the United States, Canada and Mexico start talks next week to renegotiate the North America Free Trade Agreement.

But there are reasons to be optimistic.

Part of the decline in trade as a share of global GDP in recent years -- potentially the lion’s share -- can be explained by low prices rather than declining volumes. World consumer price inflation last year was 2.7 percent, almost half what it was in 2012.

Global trade volume is rising. In the first four months of this year, it was up around 8 percent on the same period in 2016, according to Bank of America Merrill Lynch economists.

They also reckon the growth of emerging markets bodes well for trade. Emerging countries’ share of the production and consumption of traded goods has exploded in the past quarter century. These countries’ share of global output roughly doubled to 40 percent last year from 20 percent in 1991, and will continue rising in the years ahead. - Reuters
Rating: 
No votes yet

Column of the Day

Is democracy in recession?

By JOSE BAYANI BAYLON | February 26,2018
‘Populists tend to deny the legitimacy of established parties, attacking them as undemocratic and even unpatriotic.’

Opinion of the Day

New, better dengue vaccines

By DAHLI ASPILLERA | February 26, 2018
‘Sanofi’s setbacks from its rush to market; careless oversights, could lead to better future dengue vaccines from other pharmaceuticals.’