November 18, 2017, 3:01 am
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1 Philippine Peso = 0.07227 UAE Dirham
1 Philippine Peso = 2.22452 Albanian Lek
1 Philippine Peso = 0.03503 Neth Antilles Guilder
1 Philippine Peso = 0.34355 Argentine Peso
1 Philippine Peso = 0.02607 Australian Dollar
1 Philippine Peso = 0.03503 Aruba Florin
1 Philippine Peso = 0.03935 Barbados Dollar
1 Philippine Peso = 1.64187 Bangladesh Taka
1 Philippine Peso = 0.0327 Bulgarian Lev
1 Philippine Peso = 0.00742 Bahraini Dinar
1 Philippine Peso = 34.29713 Burundi Franc
1 Philippine Peso = 0.01968 Bermuda Dollar
1 Philippine Peso = 0.02667 Brunei Dollar
1 Philippine Peso = 0.13499 Bolivian Boliviano
1 Philippine Peso = 0.0645 Brazilian Real
1 Philippine Peso = 0.01968 Bahamian Dollar
1 Philippine Peso = 1.28247 Bhutan Ngultrum
1 Philippine Peso = 0.20681 Botswana Pula
1 Philippine Peso = 393.93939 Belarus Ruble
1 Philippine Peso = 0.03931 Belize Dollar
1 Philippine Peso = 0.02511 Canadian Dollar
1 Philippine Peso = 0.01951 Swiss Franc
1 Philippine Peso = 12.40988 Chilean Peso
1 Philippine Peso = 0.13051 Chinese Yuan
1 Philippine Peso = 59.13813 Colombian Peso
1 Philippine Peso = 11.08422 Costa Rica Colon
1 Philippine Peso = 0.01968 Cuban Peso
1 Philippine Peso = 1.83943 Cape Verde Escudo
1 Philippine Peso = 0.42677 Czech Koruna
1 Philippine Peso = 3.47954 Djibouti Franc
1 Philippine Peso = 0.12411 Danish Krone
1 Philippine Peso = 0.94451 Dominican Peso
1 Philippine Peso = 2.25075 Algerian Dinar
1 Philippine Peso = 0.2609 Estonian Kroon
1 Philippine Peso = 0.34652 Egyptian Pound
1 Philippine Peso = 0.53227 Ethiopian Birr
1 Philippine Peso = 0.01667 Euro
1 Philippine Peso = 0.04117 Fiji Dollar
1 Philippine Peso = 0.0149 Falkland Islands Pound
1 Philippine Peso = 0.01491 British Pound
1 Philippine Peso = 0.0895 Ghanaian Cedi
1 Philippine Peso = 0.92483 Gambian Dalasi
1 Philippine Peso = 177.2137 Guinea Franc
1 Philippine Peso = 0.14447 Guatemala Quetzal
1 Philippine Peso = 4.05313 Guyana Dollar
1 Philippine Peso = 0.15372 Hong Kong Dollar
1 Philippine Peso = 0.46232 Honduras Lempira
1 Philippine Peso = 0.12613 Croatian Kuna
1 Philippine Peso = 1.21291 Haiti Gourde
1 Philippine Peso = 5.19481 Hungarian Forint
1 Philippine Peso = 266.09603 Indonesian Rupiah
1 Philippine Peso = 0.06915 Israeli Shekel
1 Philippine Peso = 1.27847 Indian Rupee
1 Philippine Peso = 22.9634 Iraqi Dinar
1 Philippine Peso = 693.36875 Iran Rial
1 Philippine Peso = 2.02755 Iceland Krona
1 Philippine Peso = 2.47068 Jamaican Dollar
1 Philippine Peso = 0.01392 Jordanian Dinar
1 Philippine Peso = 2.21558 Japanese Yen
1 Philippine Peso = 2.03994 Kenyan Shilling
1 Philippine Peso = 1.37194 Kyrgyzstan Som
1 Philippine Peso = 79.10272 Cambodia Riel
1 Philippine Peso = 8.33333 Comoros Franc
1 Philippine Peso = 17.70956 North Korean Won
1 Philippine Peso = 21.5429 Korean Won
1 Philippine Peso = 0.00594 Kuwaiti Dinar
1 Philippine Peso = 0.01614 Cayman Islands Dollar
1 Philippine Peso = 6.52952 Kazakhstan Tenge
1 Philippine Peso = 163.2625 Lao Kip
1 Philippine Peso = 29.73239 Lebanese Pound
1 Philippine Peso = 3.02145 Sri Lanka Rupee
1 Philippine Peso = 2.44392 Liberian Dollar
1 Philippine Peso = 0.27873 Lesotho Loti
1 Philippine Peso = 0.05999 Lithuanian Lita
1 Philippine Peso = 0.01221 Latvian Lat
1 Philippine Peso = 0.02676 Libyan Dinar
1 Philippine Peso = 0.18535 Moroccan Dirham
1 Philippine Peso = 0.34406 Moldovan Leu
1 Philippine Peso = 1.02145 Macedonian Denar
1 Philippine Peso = 26.82015 Myanmar Kyat
1 Philippine Peso = 48.01181 Mongolian Tugrik
1 Philippine Peso = 0.15831 Macau Pataca
1 Philippine Peso = 6.91558 Mauritania Ougulya
1 Philippine Peso = 0.66706 Mauritius Rupee
1 Philippine Peso = 0.30638 Maldives Rufiyaa
1 Philippine Peso = 14.09681 Malawi Kwacha
1 Philippine Peso = 0.37473 Mexican Peso
1 Philippine Peso = 0.08186 Malaysian Ringgit
1 Philippine Peso = 0.27564 Namibian Dollar
1 Philippine Peso = 7.02479 Nigerian Naira
1 Philippine Peso = 0.60232 Nicaragua Cordoba
1 Philippine Peso = 0.16201 Norwegian Krone
1 Philippine Peso = 2.03758 Nepalese Rupee
1 Philippine Peso = 0.02897 New Zealand Dollar
1 Philippine Peso = 0.00757 Omani Rial
1 Philippine Peso = 0.01968 Panama Balboa
1 Philippine Peso = 0.06374 Peruvian Nuevo Sol
1 Philippine Peso = 0.06312 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.07261 Pakistani Rupee
1 Philippine Peso = 0.07062 Polish Zloty
1 Philippine Peso = 111.06651 Paraguayan Guarani
1 Philippine Peso = 0.07477 Qatar Rial
1 Philippine Peso = 0.07746 Romanian New Leu
1 Philippine Peso = 1.16854 Russian Rouble
1 Philippine Peso = 16.37721 Rwanda Franc
1 Philippine Peso = 0.07379 Saudi Arabian Riyal
1 Philippine Peso = 0.15368 Solomon Islands Dollar
1 Philippine Peso = 0.26269 Seychelles Rupee
1 Philippine Peso = 0.13104 Sudanese Pound
1 Philippine Peso = 0.16586 Swedish Krona
1 Philippine Peso = 0.02669 Singapore Dollar
1 Philippine Peso = 0.01491 St Helena Pound
1 Philippine Peso = 0.43695 Slovak Koruna
1 Philippine Peso = 149.94097 Sierra Leone Leone
1 Philippine Peso = 10.99961 Somali Shilling
1 Philippine Peso = 408.72688 Sao Tome Dobra
1 Philippine Peso = 0.17218 El Salvador Colon
1 Philippine Peso = 10.13341 Syrian Pound
1 Philippine Peso = 0.2756 Swaziland Lilageni
1 Philippine Peso = 0.64542 Thai Baht
1 Philippine Peso = 0.04872 Tunisian Dinar
1 Philippine Peso = 0.04538 Tongan paʻanga
1 Philippine Peso = 0.07647 Turkish Lira
1 Philippine Peso = 0.13045 Trinidad Tobago Dollar
1 Philippine Peso = 0.59144 Taiwan Dollar
1 Philippine Peso = 43.97875 Tanzanian Shilling
1 Philippine Peso = 0.52076 Ukraine Hryvnia
1 Philippine Peso = 71.36954 Ugandan Shilling
1 Philippine Peso = 0.01968 United States Dollar
1 Philippine Peso = 0.57989 Uruguayan New Peso
1 Philippine Peso = 158.20543 Uzbekistan Sum
1 Philippine Peso = 0.19628 Venezuelan Bolivar
1 Philippine Peso = 446.89099 Vietnam Dong
1 Philippine Peso = 2.12515 Vanuatu Vatu
1 Philippine Peso = 0.05043 Samoa Tala
1 Philippine Peso = 10.9329 CFA Franc (BEAC)
1 Philippine Peso = 0.05313 East Caribbean Dollar
1 Philippine Peso = 10.93861 CFA Franc (BCEAO)
1 Philippine Peso = 1.9754 Pacific Franc
1 Philippine Peso = 4.91834 Yemen Riyal
1 Philippine Peso = 0.27568 South African Rand
1 Philippine Peso = 102.11531 Zambian Kwacha
1 Philippine Peso = 7.12121 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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