May 24, 2018, 6:09 pm
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1 Philippine Peso = 0.07022 UAE Dirham
1 Philippine Peso = 2.04971 Albanian Lek
1 Philippine Peso = 0.03427 Neth Antilles Guilder
1 Philippine Peso = 0.46553 Argentine Peso
1 Philippine Peso = 0.02521 Australian Dollar
1 Philippine Peso = 0.03403 Aruba Florin
1 Philippine Peso = 0.03824 Barbados Dollar
1 Philippine Peso = 1.6174 Bangladesh Taka
1 Philippine Peso = 0.0318 Bulgarian Lev
1 Philippine Peso = 0.00722 Bahraini Dinar
1 Philippine Peso = 33.47954 Burundi Franc
1 Philippine Peso = 0.01912 Bermuda Dollar
1 Philippine Peso = 0.02536 Brunei Dollar
1 Philippine Peso = 0.13117 Bolivian Boliviano
1 Philippine Peso = 0.07028 Brazilian Real
1 Philippine Peso = 0.01912 Bahamian Dollar
1 Philippine Peso = 1.30067 Bhutan Ngultrum
1 Philippine Peso = 0.19226 Botswana Pula
1 Philippine Peso = 382.79159 Belarus Ruble
1 Philippine Peso = 0.0382 Belize Dollar
1 Philippine Peso = 0.02445 Canadian Dollar
1 Philippine Peso = 0.01907 Swiss Franc
1 Philippine Peso = 12.17151 Chilean Peso
1 Philippine Peso = 0.12202 Chinese Yuan
1 Philippine Peso = 54.9522 Colombian Peso
1 Philippine Peso = 10.70612 Costa Rica Colon
1 Philippine Peso = 0.01912 Cuban Peso
1 Philippine Peso = 1.78834 Cape Verde Escudo
1 Philippine Peso = 0.41644 Czech Koruna
1 Philippine Peso = 3.3891 Djibouti Franc
1 Philippine Peso = 0.12076 Danish Krone
1 Philippine Peso = 0.94646 Dominican Peso
1 Philippine Peso = 2.21398 Algerian Dinar
1 Philippine Peso = 0.25367 Estonian Kroon
1 Philippine Peso = 0.34149 Egyptian Pound
1 Philippine Peso = 0.52008 Ethiopian Birr
1 Philippine Peso = 0.01621 Euro
1 Philippine Peso = 0.03927 Fiji Dollar
1 Philippine Peso = 0.01423 Falkland Islands Pound
1 Philippine Peso = 0.01423 British Pound
1 Philippine Peso = 0.08859 Ghanaian Cedi
1 Philippine Peso = 0.89503 Gambian Dalasi
1 Philippine Peso = 172.06501 Guinea Franc
1 Philippine Peso = 0.14027 Guatemala Quetzal
1 Philippine Peso = 3.93289 Guyana Dollar
1 Philippine Peso = 0.15004 Hong Kong Dollar
1 Philippine Peso = 0.45428 Honduras Lempira
1 Philippine Peso = 0.11999 Croatian Kuna
1 Philippine Peso = 1.19751 Haiti Gourde
1 Philippine Peso = 5.1499 Hungarian Forint
1 Philippine Peso = 271.08987 Indonesian Rupiah
1 Philippine Peso = 0.06827 Israeli Shekel
1 Philippine Peso = 1.30228 Indian Rupee
1 Philippine Peso = 22.63862 Iraqi Dinar
1 Philippine Peso = 804.0153 Iran Rial
1 Philippine Peso = 1.99809 Iceland Krona
1 Philippine Peso = 2.38145 Jamaican Dollar
1 Philippine Peso = 0.0135 Jordanian Dinar
1 Philippine Peso = 2.12293 Japanese Yen
1 Philippine Peso = 1.91587 Kenyan Shilling
1 Philippine Peso = 1.30863 Kyrgyzstan Som
1 Philippine Peso = 77.2065 Cambodia Riel
1 Philippine Peso = 7.91109 Comoros Franc
1 Philippine Peso = 17.20841 North Korean Won
1 Philippine Peso = 20.57725 Korean Won
1 Philippine Peso = 0.00577 Kuwaiti Dinar
1 Philippine Peso = 0.01568 Cayman Islands Dollar
1 Philippine Peso = 6.29369 Kazakhstan Tenge
1 Philippine Peso = 159.08222 Lao Kip
1 Philippine Peso = 28.77629 Lebanese Pound
1 Philippine Peso = 3.0153 Sri Lanka Rupee
1 Philippine Peso = 2.55793 Liberian Dollar
1 Philippine Peso = 0.24207 Lesotho Loti
1 Philippine Peso = 0.05829 Lithuanian Lita
1 Philippine Peso = 0.01187 Latvian Lat
1 Philippine Peso = 0.02595 Libyan Dinar
1 Philippine Peso = 0.18017 Moroccan Dirham
1 Philippine Peso = 0.31807 Moldovan Leu
1 Philippine Peso = 0.99293 Macedonian Denar
1 Philippine Peso = 25.85086 Myanmar Kyat
1 Philippine Peso = 45.83174 Mongolian Tugrik
1 Philippine Peso = 0.15455 Macau Pataca
1 Philippine Peso = 6.76864 Mauritania Ougulya
1 Philippine Peso = 0.65679 Mauritius Rupee
1 Philippine Peso = 0.29771 Maldives Rufiyaa
1 Philippine Peso = 13.64149 Malawi Kwacha
1 Philippine Peso = 0.37878 Mexican Peso
1 Philippine Peso = 0.07606 Malaysian Ringgit
1 Philippine Peso = 0.24208 Namibian Dollar
1 Philippine Peso = 6.88337 Nigerian Naira
1 Philippine Peso = 0.59598 Nicaragua Cordoba
1 Philippine Peso = 0.15388 Norwegian Krone
1 Philippine Peso = 2.08185 Nepalese Rupee
1 Philippine Peso = 0.02752 New Zealand Dollar
1 Philippine Peso = 0.00735 Omani Rial
1 Philippine Peso = 0.01912 Panama Balboa
1 Philippine Peso = 0.0627 Peruvian Nuevo Sol
1 Philippine Peso = 0.06117 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.20841 Pakistani Rupee
1 Philippine Peso = 0.06955 Polish Zloty
1 Philippine Peso = 107.60994 Paraguayan Guarani
1 Philippine Peso = 0.06959 Qatar Rial
1 Philippine Peso = 0.07495 Romanian New Leu
1 Philippine Peso = 1.17737 Russian Rouble
1 Philippine Peso = 16.18375 Rwanda Franc
1 Philippine Peso = 0.0717 Saudi Arabian Riyal
1 Philippine Peso = 0.15039 Solomon Islands Dollar
1 Philippine Peso = 0.26023 Seychelles Rupee
1 Philippine Peso = 0.34331 Sudanese Pound
1 Philippine Peso = 0.16581 Swedish Krona
1 Philippine Peso = 0.02562 Singapore Dollar
1 Philippine Peso = 0.01424 St Helena Pound
1 Philippine Peso = 0.42459 Slovak Koruna
1 Philippine Peso = 149.13958 Sierra Leone Leone
1 Philippine Peso = 10.7457 Somali Shilling
1 Philippine Peso = 397.36138 Sao Tome Dobra
1 Philippine Peso = 0.1673 El Salvador Colon
1 Philippine Peso = 9.84665 Syrian Pound
1 Philippine Peso = 0.24215 Swaziland Lilageni
1 Philippine Peso = 0.61434 Thai Baht
1 Philippine Peso = 0.04906 Tunisian Dinar
1 Philippine Peso = 0.04426 Tongan paʻanga
1 Philippine Peso = 0.08746 Turkish Lira
1 Philippine Peso = 0.12714 Trinidad Tobago Dollar
1 Philippine Peso = 0.57119 Taiwan Dollar
1 Philippine Peso = 43.51816 Tanzanian Shilling
1 Philippine Peso = 0.49847 Ukraine Hryvnia
1 Philippine Peso = 71.12811 Ugandan Shilling
1 Philippine Peso = 0.01912 United States Dollar
1 Philippine Peso = 0.59981 Uruguayan New Peso
1 Philippine Peso = 152.58126 Uzbekistan Sum
1 Philippine Peso = 1501.96941 Venezuelan Bolivar
1 Philippine Peso = 435.35373 Vietnam Dong
1 Philippine Peso = 2.08088 Vanuatu Vatu
1 Philippine Peso = 0.0494 Samoa Tala
1 Philippine Peso = 10.62849 CFA Franc (BEAC)
1 Philippine Peso = 0.05163 East Caribbean Dollar
1 Philippine Peso = 10.62849 CFA Franc (BCEAO)
1 Philippine Peso = 1.92218 Pacific Franc
1 Philippine Peso = 4.7782 Yemen Riyal
1 Philippine Peso = 0.24216 South African Rand
1 Philippine Peso = 99.22562 Zambian Kwacha
1 Philippine Peso = 6.91969 Zimbabwe dollar

PH TO LEAD GROWTH IN ASEAN: Constructive growth for Asia for rest of 2017, says Citi

Asia will remain on the growth path in the second half of 2017, though its pace is expected to moderate, according to Citi’s economic forecast for the region.

In its latest research briefing, Citi said it expected Asia to grow by 6.1 percent in the second half of 2017, slightly higher than the 5.9 percent it logged a year ago, on the back of a resilient, tech export-led manufacturing sector and anticipated spending for capital equipment in advanced economies, backstopped by strong fiscal support and accommodative monetary conditions across the region. 

The region is expected to grow 6 percent in 2018, outpacing global GDP growth which is seen at 3.3 percent in 2018 and 3.1 percent in 2017.

India and China were seen to post the highest growth rates in Asia in the second half of 2017, with India seen growing at 7.5 percent and China at 6.8 percent. 

The Philippines, with a projected 6.5 percent growth, ranks third, followed by Vietnam at 6.4 percent. 

Citi’s second half GDP growth projection for the rest of Asia are as follows:  Hong Kong, 3 percent; Indonesia, 5.3 percent: Korea, 2.9 percent; Malaysia, 5.2 percent; Mongolia, 2.6 percent; Singapore, 2.5 percent; Sri Lanka, 4.4 percent; Taiwan, 2.3 percent; and Thailand, 3.5 percent.

The outlook for the Philippines remains sanguine, with GDP seen growing at 6.5 percent, slightly lower than the 6.9 percent recorded a year ago.  

Despite doing better than other economies in tech exports, real GDP growth in the Philippines declined on lower investment and consumption, with a sharp drop noted in equipment investment spending.  

The country is seen to grow 6.6 percent in 2018.

Moving into the second half of 2017, the Philippines, a heavy exporter of chips, is expected to benefit from the tech cycle, with demand on the upswing. 

The country finished second only to outperformer Vietnam in tech exports in the first half of 2017, ahead of Malaysia, Singapore, Thailand, North Korea, China, Korea, and Taiwan, according to Citi Research.  

The tech sector has been a very significant driver of overall exports in Asia, and  is expected to stay resilient in the last semester despite a slower export growth momentum in the region. 

“Things bode well for the Philippines, with the government’s build build build program and various socio-economic programs providing the impetus that will support domestic growth. Coupled with rising demand from our export markets, especially the chip market, the Philippines can look forward to maintaining its growth pace in the second half of the year, going into 2018, ” said Paul Favila, Citi Markets and Securities Services Head, and concurrent Country Treasurer for the Philippines.

Tax reform efforts and increased infrastructure spending are seen to provide the fiscal space and accommodative monetary conditions that will abet growth in the Philippines.  

Annual spending increased in the first half of 2017, but remained low as a  percent of GDP. The budget deficit also remained on track.  

Despite choppy unemployment figures, the Philippines was noted to have a healthy balance sheet, with healthy remittances and consumer confidence remaining high, and with household debt staying at low levels. 

Moreover, credit growth has remained buoyant relative to others in Asia.  

However, a particular risk to the Philippines, said Citi, is rising global interest rates, but given a healthy external balance sheet and more than ample foreign exchange reserves, the risk is seen to be manageable.

Other countries in Asia are also expected to benefit from tech-heavy export growth. 

“As global GDP picks up in the second half of 2017, we are reasonably sanguine about the outlook for Asia’s growth,” said Johanna Chua, Citi Head of Asia Economics and Market Analysis who gave the presentation to the media.

Asia is also seen to benefit from US growth, with Asia being the most trade integrated with the US outside of NAFTA countries. 

Asia’s sensitivity to US growth shocks in, on average, almost as important as its sensitivity to China growth shocks, said Chua.

Capex cycles in advanced economies are expected to continue to provide some support to global demand, offsetting risks from a possible slowdown in China’s investment activity. 

Citi noted pockets of domestic strength across Asia, aided by fiscal support and accommodative monetary conditions in some countries, such as Indonesia’s better-than-expected revenues, Korea’s job-centric supplementary budget, and Malaysia’s mildly expansionary budget from higher than assumed oil prices ahead of elections. 
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