September 22, 2017, 6:03 pm
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1 Philippine Peso = 0.07205 UAE Dirham
1 Philippine Peso = 2.19737 Albanian Lek
1 Philippine Peso = 0.03473 Neth Antilles Guilder
1 Philippine Peso = 0.33883 Argentine Peso
1 Philippine Peso = 0.02472 Australian Dollar
1 Philippine Peso = 0.03508 Aruba Florin
1 Philippine Peso = 0.03924 Barbados Dollar
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1 Philippine Peso = 34.03414 Burundi Franc
1 Philippine Peso = 0.01962 Bermuda Dollar
1 Philippine Peso = 0.02647 Brunei Dollar
1 Philippine Peso = 0.13537 Bolivian Boliviano
1 Philippine Peso = 0.06149 Brazilian Real
1 Philippine Peso = 0.01962 Bahamian Dollar
1 Philippine Peso = 1.26104 Bhutan Ngultrum
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1 Philippine Peso = 392.78006 Belarus Ruble
1 Philippine Peso = 0.03919 Belize Dollar
1 Philippine Peso = 0.02419 Canadian Dollar
1 Philippine Peso = 0.01905 Swiss Franc
1 Philippine Peso = 12.25231 Chilean Peso
1 Philippine Peso = 0.12921 Chinese Yuan
1 Philippine Peso = 57.14342 Colombian Peso
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1 Philippine Peso = 0.01962 Cuban Peso
1 Philippine Peso = 1.81263 Cape Verde Escudo
1 Philippine Peso = 0.42857 Czech Koruna
1 Philippine Peso = 3.49225 Djibouti Franc
1 Philippine Peso = 0.12231 Danish Krone
1 Philippine Peso = 0.92211 Dominican Peso
1 Philippine Peso = 2.19774 Algerian Dinar
1 Philippine Peso = 0.25715 Estonian Kroon
1 Philippine Peso = 0.34589 Egyptian Pound
1 Philippine Peso = 0.45831 Ethiopian Birr
1 Philippine Peso = 0.01644 Euro
1 Philippine Peso = 0.03953 Fiji Dollar
1 Philippine Peso = 0.01454 Falkland Islands Pound
1 Philippine Peso = 0.01447 British Pound
1 Philippine Peso = 0.08679 Ghanaian Cedi
1 Philippine Peso = 0.87895 Gambian Dalasi
1 Philippine Peso = 174.63213 Guinea Franc
1 Philippine Peso = 0.14311 Guatemala Quetzal
1 Philippine Peso = 3.97705 Guyana Dollar
1 Philippine Peso = 0.15314 Hong Kong Dollar
1 Philippine Peso = 0.45756 Honduras Lempira
1 Philippine Peso = 0.12286 Croatian Kuna
1 Philippine Peso = 1.19973 Haiti Gourde
1 Philippine Peso = 5.08986 Hungarian Forint
1 Philippine Peso = 260.48656 Indonesian Rupiah
1 Philippine Peso = 0.0688 Israeli Shekel
1 Philippine Peso = 1.27132 Indian Rupee
1 Philippine Peso = 22.89582 Iraqi Dinar
1 Philippine Peso = 658.62271 Iran Rial
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1 Philippine Peso = 2.56229 Jamaican Dollar
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1 Philippine Peso = 2.20489 Japanese Yen
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1 Philippine Peso = 17.65745 North Korean Won
1 Philippine Peso = 22.18972 Korean Won
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1 Philippine Peso = 0.01609 Cayman Islands Dollar
1 Philippine Peso = 6.67785 Kazakhstan Tenge
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1 Philippine Peso = 2.99588 Sri Lanka Rupee
1 Philippine Peso = 2.29351 Liberian Dollar
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1 Philippine Peso = 0.01217 Latvian Lat
1 Philippine Peso = 0.02654 Libyan Dinar
1 Philippine Peso = 0.18329 Moroccan Dirham
1 Philippine Peso = 0.34501 Moldovan Leu
1 Philippine Peso = 1.00647 Macedonian Denar
1 Philippine Peso = 26.68236 Myanmar Kyat
1 Philippine Peso = 48.14597 Mongolian Tugrik
1 Philippine Peso = 0.15773 Macau Pataca
1 Philippine Peso = 7.0826 Mauritania Ougulya
1 Philippine Peso = 0.65097 Mauritius Rupee
1 Philippine Peso = 0.30135 Maldives Rufiyaa
1 Philippine Peso = 14.05376 Malawi Kwacha
1 Philippine Peso = 0.34969 Mexican Peso
1 Philippine Peso = 0.08232 Malaysian Ringgit
1 Philippine Peso = 0.2598 Namibian Dollar
1 Philippine Peso = 6.92564 Nigerian Naira
1 Philippine Peso = 0.58623 Nicaragua Cordoba
1 Philippine Peso = 0.15332 Norwegian Krone
1 Philippine Peso = 2.01197 Nepalese Rupee
1 Philippine Peso = 0.02683 New Zealand Dollar
1 Philippine Peso = 0.00755 Omani Rial
1 Philippine Peso = 0.01962 Panama Balboa
1 Philippine Peso = 0.06369 Peruvian Nuevo Sol
1 Philippine Peso = 0.06268 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.06494 Pakistani Rupee
1 Philippine Peso = 0.07028 Polish Zloty
1 Philippine Peso = 111.25171 Paraguayan Guarani
1 Philippine Peso = 0.07269 Qatar Rial
1 Philippine Peso = 0.0755 Romanian New Leu
1 Philippine Peso = 1.13354 Russian Rouble
1 Philippine Peso = 16.2576 Rwanda Franc
1 Philippine Peso = 0.07357 Saudi Arabian Riyal
1 Philippine Peso = 0.15204 Solomon Islands Dollar
1 Philippine Peso = 0.2669 Seychelles Rupee
1 Philippine Peso = 0.13067 Sudanese Pound
1 Philippine Peso = 0.15655 Swedish Krona
1 Philippine Peso = 0.02649 Singapore Dollar
1 Philippine Peso = 0.01455 St Helena Pound
1 Philippine Peso = 0.43567 Slovak Koruna
1 Philippine Peso = 147.14538 Sierra Leone Leone
1 Philippine Peso = 10.928 Somali Shilling
1 Philippine Peso = 402.77613 Sao Tome Dobra
1 Philippine Peso = 0.17167 El Salvador Colon
1 Philippine Peso = 10.10359 Syrian Pound
1 Philippine Peso = 0.2598 Swaziland Lilageni
1 Philippine Peso = 0.64921 Thai Baht
1 Philippine Peso = 0.04791 Tunisian Dinar
1 Philippine Peso = 0.0432 Tongan paʻanga
1 Philippine Peso = 0.06876 Turkish Lira
1 Philippine Peso = 0.13239 Trinidad Tobago Dollar
1 Philippine Peso = 0.59217 Taiwan Dollar
1 Philippine Peso = 43.90818 Tanzanian Shilling
1 Philippine Peso = 0.51422 Ukraine Hryvnia
1 Philippine Peso = 70.57092 Ugandan Shilling
1 Philippine Peso = 0.01962 United States Dollar
1 Philippine Peso = 0.56582 Uruguayan New Peso
1 Philippine Peso = 158.34804 Uzbekistan Sum
1 Philippine Peso = 0.19569 Venezuelan Bolivar
1 Philippine Peso = 445.73278 Vietnam Dong
1 Philippine Peso = 2.0155 Vanuatu Vatu
1 Philippine Peso = 0.04907 Samoa Tala
1 Philippine Peso = 10.773 CFA Franc (BEAC)
1 Philippine Peso = 0.05297 East Caribbean Dollar
1 Philippine Peso = 10.75142 CFA Franc (BCEAO)
1 Philippine Peso = 1.95017 Pacific Franc
1 Philippine Peso = 4.90386 Yemen Riyal
1 Philippine Peso = 0.25991 South African Rand
1 Philippine Peso = 101.81479 Zambian Kwacha
1 Philippine Peso = 7.10025 Zimbabwe dollar

Ministers to debate euro zone future

BRUSSELS- Euro zone finance ministers will launch a debate on the future of the single currency area on Friday that could lead to much deeper integration of their 19 economies and the creation of a euro zone finance minister and budget.

They will then be joined in the Estonian capital Tallinn by finance ministers and central bank governors from the rest of the European Union for informal talks on Friday and Saturday. A deepening of the Economic and Monetary Union (EMU) will be one of the main topics on their agenda.

The discussions are part of a renewed drive, led by Germany and France, to revamp the bloc after the sovereign debt crisis shook its foundations and Britain’s vote to leave the EU dealt a blow to the wider European Union.

Berlin and Paris agree it would be good to have a joint pool of money specifically for countries using the euro. There should also be a person looking after such a budget, running a euro zone treasury -- a euro zone finance minister.

But the two biggest euro zone countries and the EU institutions differ on how big that budget should be, where to find the money and how the funds should be spent.

They also differ on what powers a future finance minister for the whole of the euro zone should have. Germany would like such a figure to have large powers, including a veto on national budgets and monitoring polices. But others say this would be difficult to reconcile with the prerogatives now accorded to the European Commission under EU treaties.

Germany favors a small budget, known in EU jargon as a “fiscal capacity” or “stabilization function”. It would rather not see any permanent transfers. For Berlin the budget could help finance structural reforms and maybe support investment.

France is more in favor of a larger budget, euro zone officials say, that would act as a tool to help deal with economic cycle downturns, for instance by helping with unemployment benefit payments in countries in recession.

Officials say Paris would be prepared to have a dedicated tax stream in the euro zone to finance such a budget.

Germany has mentioned the possibility of using money from the euro zone bailout fund, the European Stability Mechanism (ESM), but in general the issue of financing for the budget is wide open and there are no firm proposals.

The head of the euro zone bailout fund, Klaus Regling, wrote in a speech to be delivered this week at the Eurofi conference in Tallinn that a euro zone budget would be useful only as a tool to counter asymmetric shocks -- for instance a sudden problem in one euro zone country, rather than the whole bloc.

Regling suggested the size of such a euro zone budget could be 1-2 percent of euro zone Gross National Product, and could be accumulated over a number of years. This would be roughly the same as the size of the whole budget of the wider EU, which also amounts to about 1 percent of EU annual Gross National Income.

“The framework for such limited fiscal capacity could be designed to prevent moral hazard and free-riding,” he said.

In future euro zone reform, France emphasizes the need for more risk-sharing and more financial solidarity among euro zone governments, while Germany stresses the need for more risk reduction and more fiscal discipline first.

Operating a joint budget, with or without permanent transfers, would force the euro zone to ensure higher fiscal discipline. This has been hard to impose with current, complex EU rules and a political approach to their implementation.

Some, like Slovak Finance Minister Peter Kazimir, are proposing to replace EU rules with market pressure. This could be done by introducing a sovereign debt restructuring mechanism, Kazimir said, which would focus markets on the risks of investing in government bonds.

But to complicate matters more, such a sovereign insolvency mechanism would have to be introduced in parallel with a change in the way risk is calculated for government bond portfolios in banks across the euro zone.

This would be a very difficult task because it would have to be done in a way that would not lead to a panic sell-off of some bonds or market panic that one of the sovereigns could default which would become a self-fulfilling prophecy, officials said.
European Union leaders may give first directions for further work on the new structure of the euro zone when they meet for their regular summit in December, officials said. – Reuters 

But if the formation of a new German government after the elections on September 24th drags on for a long time, the leaders’ discussions may be postponed until March, they said. – Reuters 
 
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