October 24, 2017, 1:29 am
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1 Philippine Peso = 0.07134 UAE Dirham
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1 Philippine Peso = 0.03458 Neth Antilles Guilder
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1 Philippine Peso = 0.06247 Brazilian Real
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1 Philippine Peso = 0.01653 Euro
1 Philippine Peso = 0.03972 Fiji Dollar
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1 Philippine Peso = 0.01472 British Pound
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1 Philippine Peso = 0.91414 Gambian Dalasi
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1 Philippine Peso = 0.33557 Moldovan Leu
1 Philippine Peso = 1.00952 Macedonian Denar
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1 Philippine Peso = 0.02786 New Zealand Dollar
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1 Philippine Peso = 1 Philippine Peso
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1 Philippine Peso = 0.0698 Polish Zloty
1 Philippine Peso = 109.32012 Paraguayan Guarani
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1 Philippine Peso = 16.13209 Rwanda Franc
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1 Philippine Peso = 0.25618 Seychelles Rupee
1 Philippine Peso = 0.12937 Sudanese Pound
1 Philippine Peso = 0.15921 Swedish Krona
1 Philippine Peso = 0.02646 Singapore Dollar
1 Philippine Peso = 0.01475 St Helena Pound
1 Philippine Peso = 0.43135 Slovak Koruna
1 Philippine Peso = 148.01865 Sierra Leone Leone
1 Philippine Peso = 10.85859 Somali Shilling
1 Philippine Peso = 405.06606 Sao Tome Dobra
1 Philippine Peso = 0.16997 El Salvador Colon
1 Philippine Peso = 10.0035 Syrian Pound
1 Philippine Peso = 0.26663 Swaziland Lilageni
1 Philippine Peso = 0.64433 Thai Baht
1 Philippine Peso = 0.04839 Tunisian Dinar
1 Philippine Peso = 0.04297 Tongan paʻanga
1 Philippine Peso = 0.07213 Turkish Lira
1 Philippine Peso = 0.12972 Trinidad Tobago Dollar
1 Philippine Peso = 0.58747 Taiwan Dollar
1 Philippine Peso = 43.47319 Tanzanian Shilling
1 Philippine Peso = 0.51593 Ukraine Hryvnia
1 Philippine Peso = 70.94017 Ugandan Shilling
1 Philippine Peso = 0.01943 United States Dollar
1 Philippine Peso = 0.57556 Uruguayan New Peso
1 Philippine Peso = 156.17716 Uzbekistan Sum
1 Philippine Peso = 0.19376 Venezuelan Bolivar
1 Philippine Peso = 441.37529 Vietnam Dong
1 Philippine Peso = 2.06876 Vanuatu Vatu
1 Philippine Peso = 0.04978 Samoa Tala
1 Philippine Peso = 10.83178 CFA Franc (BEAC)
1 Philippine Peso = 0.05245 East Caribbean Dollar
1 Philippine Peso = 10.68376 CFA Franc (BCEAO)
1 Philippine Peso = 1.97222 Pacific Franc
1 Philippine Peso = 4.85431 Yemen Riyal
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US businesses fear NAFTA doomed

MEXICO CITY/WASHINGTON- The most powerful US business lobby accused the Trump administration of making “poison pill proposals” to sabotage NAFTA on Tuesday, as Mexico’s foreign minister said the demise of the regional trade pact would hurt bilateral cooperation.

The process of renegotiating the 23-year-old North American Free Trade Agreement has turned increasingly acrimonious. Mexico accuses US President Donald Trump of spoiling for a “protectionist war” with proposals aimed at balancing trade.

Mexican Foreign Minister Luis Videgaray said on Tuesday that an end to NAFTA would mark a breaking point in US-Mexican relations and affect bilateral cooperation in other areas. 

Mexico is a key partner of the United States in fighting drug trafficking and stemming illegal immigration across the US southern border.

Videgaray spoke after Trump warned again that he would like to scrap the treaty that created one of the world’s biggest trade blocs.

“I happen to think that NAFTA will have to be terminated if we’re going to make it good,” Trump said in an interview with Forbes published on Tuesday.

The Mexican peso weakened for the fifth straight session on Tuesday amid the increased tensions, and hit its weakest level against the dollar since early June.

A fourth round of negotiations starting in Washington on Wednesday to modernize NAFTA has been prolonged by two days to Oct. 17, two sources in Mexico said.

Trump’s hardline position did not appear to have wide support ahead of the talks, with many US businesses and farmers lining up to back the existing agreement.

Speaking in Mexico City, Thomas Donohue, the US Chamber of Commerce’s president and chief executive, listed several US proposals that he said would undermine $1 trillion in annual trilateral trade, including a “sunset clause” to force regular negotiations.

His comments marked the second broadside the chamber has launched against the Trump administration’s stance on NAFTA in less than a week. It has argued repeatedly that the trade pact is critical to US industries such as agriculture and manufacturing.

“There are several poison pill proposals still on the table that could doom the entire deal,” Donohue said at an event hosted by the American Chamber of Commerce of Mexico, where he said the “existential threat” to NAFTA threatened regional security.

US officials have suggested incorporating a sunset clause in NAFTA that would kill it unless it was renegotiated every five years. The officials have also suggested eliminating a key dispute resolution mechanism, much to the dismay of Canada.

Donohue singled out plans to make automakers source more parts in North America, as well as proposed changes to the dispute resolution mechanism as obstacles to NAFTA’s renewal. He also cited plans to limit Canadian and Mexican access to US government procurement rules.

Automakers in Mexico say excessive content requirements could do serious damage to the industry’s competitiveness.

“The impact would be the opposite of what’s intended: US industry would source more inputs from Asia and less from the US That’s right — this proposal would actually send business overseas,” Donohue said.

He also slammed the emphasis placed by the White House on reducing the US trade deficit.

“It’s the wrong focus and is impossible to achieve without crippling the economy,” he said.

The chamber sent a letter to the White House on Tuesday signed by more than 300 local US business groups in support of NAFTA.

The United States, Mexico and Canada began renegotiating NAFTA this summer.

Trump has repeatedly threatened to withdraw if he does not win concessions to reduce a US trade deficit of around $64 billion with Mexico. – Reuters 
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