October 19, 2017, 7:11 pm
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1 Philippine Peso = 0.0717 UAE Dirham
1 Philippine Peso = 2.20871 Albanian Lek
1 Philippine Peso = 0.03475 Neth Antilles Guilder
1 Philippine Peso = 0.33813 Argentine Peso
1 Philippine Peso = 0.0248 Australian Dollar
1 Philippine Peso = 0.03475 Aruba Florin
1 Philippine Peso = 0.03905 Barbados Dollar
1 Philippine Peso = 1.57731 Bangladesh Taka
1 Philippine Peso = 0.03233 Bulgarian Lev
1 Philippine Peso = 0.00736 Bahraini Dinar
1 Philippine Peso = 33.79539 Burundi Franc
1 Philippine Peso = 0.01952 Bermuda Dollar
1 Philippine Peso = 0.02637 Brunei Dollar
1 Philippine Peso = 0.13393 Bolivian Boliviano
1 Philippine Peso = 0.0616 Brazilian Real
1 Philippine Peso = 0.01952 Bahamian Dollar
1 Philippine Peso = 1.2666 Bhutan Ngultrum
1 Philippine Peso = 0.19953 Botswana Pula
1 Philippine Peso = 390.86294 Belarus Ruble
1 Philippine Peso = 0.039 Belize Dollar
1 Philippine Peso = 0.02447 Canadian Dollar
1 Philippine Peso = 0.01905 Swiss Franc
1 Philippine Peso = 12.09684 Chilean Peso
1 Philippine Peso = 0.12863 Chinese Yuan
1 Philippine Peso = 57.20812 Colombian Peso
1 Philippine Peso = 11.07243 Costa Rica Colon
1 Philippine Peso = 0.01952 Cuban Peso
1 Philippine Peso = 1.82351 Cape Verde Escudo
1 Philippine Peso = 0.42558 Czech Koruna
1 Philippine Peso = 3.46544 Djibouti Franc
1 Philippine Peso = 0.12309 Danish Krone
1 Philippine Peso = 0.92112 Dominican Peso
1 Philippine Peso = 2.21712 Algerian Dinar
1 Philippine Peso = 0.25865 Estonian Kroon
1 Philippine Peso = 0.3441 Egyptian Pound
1 Philippine Peso = 0.52519 Ethiopian Birr
1 Philippine Peso = 0.01653 Euro
1 Philippine Peso = 0.0399 Fiji Dollar
1 Philippine Peso = 0.01467 Falkland Islands Pound
1 Philippine Peso = 0.01471 British Pound
1 Philippine Peso = 0.08578 Ghanaian Cedi
1 Philippine Peso = 0.91761 Gambian Dalasi
1 Philippine Peso = 173.50644 Guinea Franc
1 Philippine Peso = 0.14337 Guatemala Quetzal
1 Philippine Peso = 3.9752 Guyana Dollar
1 Philippine Peso = 0.15244 Hong Kong Dollar
1 Philippine Peso = 0.45638 Honduras Lempira
1 Philippine Peso = 0.12402 Croatian Kuna
1 Philippine Peso = 1.19621 Haiti Gourde
1 Philippine Peso = 5.08551 Hungarian Forint
1 Philippine Peso = 263.17844 Indonesian Rupiah
1 Philippine Peso = 0.0682 Israeli Shekel
1 Philippine Peso = 1.26328 Indian Rupee
1 Philippine Peso = 22.78407 Iraqi Dinar
1 Philippine Peso = 667.88363 Iran Rial
1 Philippine Peso = 2.04705 Iceland Krona
1 Philippine Peso = 2.48653 Jamaican Dollar
1 Philippine Peso = 0.01381 Jordanian Dinar
1 Philippine Peso = 2.1829 Japanese Yen
1 Philippine Peso = 2.01386 Kenyan Shilling
1 Philippine Peso = 1.33715 Kyrgyzstan Som
1 Philippine Peso = 78.73877 Cambodia Riel
1 Philippine Peso = 8.09352 Comoros Franc
1 Philippine Peso = 17.57126 North Korean Won
1 Philippine Peso = 21.9875 Korean Won
1 Philippine Peso = 0.00589 Kuwaiti Dinar
1 Philippine Peso = 0.01601 Cayman Islands Dollar
1 Philippine Peso = 6.51054 Kazakhstan Tenge
1 Philippine Peso = 161.47403 Lao Kip
1 Philippine Peso = 29.39672 Lebanese Pound
1 Philippine Peso = 2.99785 Sri Lanka Rupee
1 Philippine Peso = 2.29988 Liberian Dollar
1 Philippine Peso = 0.25908 Lesotho Loti
1 Philippine Peso = 0.05952 Lithuanian Lita
1 Philippine Peso = 0.01212 Latvian Lat
1 Philippine Peso = 0.02662 Libyan Dinar
1 Philippine Peso = 0.18372 Moroccan Dirham
1 Philippine Peso = 0.33809 Moldovan Leu
1 Philippine Peso = 1.01269 Macedonian Denar
1 Philippine Peso = 26.59117 Myanmar Kyat
1 Philippine Peso = 47.89145 Mongolian Tugrik
1 Philippine Peso = 0.157 Macau Pataca
1 Philippine Peso = 7.04803 Mauritania Ougulya
1 Philippine Peso = 0.65892 Mauritius Rupee
1 Philippine Peso = 0.3034 Maldives Rufiyaa
1 Philippine Peso = 13.98223 Malawi Kwacha
1 Philippine Peso = 0.37125 Mexican Peso
1 Philippine Peso = 0.0823 Malaysian Ringgit
1 Philippine Peso = 0.25884 Namibian Dollar
1 Philippine Peso = 6.89184 Nigerian Naira
1 Philippine Peso = 0.59176 Nicaragua Cordoba
1 Philippine Peso = 0.15391 Norwegian Krone
1 Philippine Peso = 2.0285 Nepalese Rupee
1 Philippine Peso = 0.02714 New Zealand Dollar
1 Philippine Peso = 0.00751 Omani Rial
1 Philippine Peso = 0.01952 Panama Balboa
1 Philippine Peso = 0.06338 Peruvian Nuevo Sol
1 Philippine Peso = 0.06228 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.05076 Pakistani Rupee
1 Philippine Peso = 0.07005 Polish Zloty
1 Philippine Peso = 109.88871 Paraguayan Guarani
1 Philippine Peso = 0.07106 Qatar Rial
1 Philippine Peso = 0.07576 Romanian New Leu
1 Philippine Peso = 1.11582 Russian Rouble
1 Philippine Peso = 16.21398 Rwanda Franc
1 Philippine Peso = 0.07321 Saudi Arabian Riyal
1 Philippine Peso = 0.15248 Solomon Islands Dollar
1 Philippine Peso = 0.26667 Seychelles Rupee
1 Philippine Peso = 0.13003 Sudanese Pound
1 Philippine Peso = 0.15841 Swedish Krona
1 Philippine Peso = 0.02638 Singapore Dollar
1 Philippine Peso = 0.01468 St Helena Pound
1 Philippine Peso = 0.43354 Slovak Koruna
1 Philippine Peso = 148.77001 Sierra Leone Leone
1 Philippine Peso = 10.91371 Somali Shilling
1 Philippine Peso = 405.15812 Sao Tome Dobra
1 Philippine Peso = 0.17083 El Salvador Colon
1 Philippine Peso = 10.05428 Syrian Pound
1 Philippine Peso = 0.25884 Swaziland Lilageni
1 Philippine Peso = 0.64526 Thai Baht
1 Philippine Peso = 0.04826 Tunisian Dinar
1 Philippine Peso = 0.04364 Tongan paʻanga
1 Philippine Peso = 0.07093 Turkish Lira
1 Philippine Peso = 0.13039 Trinidad Tobago Dollar
1 Philippine Peso = 0.58821 Taiwan Dollar
1 Philippine Peso = 43.69387 Tanzanian Shilling
1 Philippine Peso = 0.51738 Ukraine Hryvnia
1 Philippine Peso = 71.10504 Ugandan Shilling
1 Philippine Peso = 0.01952 United States Dollar
1 Philippine Peso = 0.57321 Uruguayan New Peso
1 Philippine Peso = 156.77469 Uzbekistan Sum
1 Philippine Peso = 0.19475 Venezuelan Bolivar
1 Philippine Peso = 443.49862 Vietnam Dong
1 Philippine Peso = 2.03026 Vanuatu Vatu
1 Philippine Peso = 0.0495 Samoa Tala
1 Philippine Peso = 10.83639 CFA Franc (BEAC)
1 Philippine Peso = 0.05271 East Caribbean Dollar
1 Philippine Peso = 10.75752 CFA Franc (BCEAO)
1 Philippine Peso = 1.96193 Pacific Franc
1 Philippine Peso = 4.87895 Yemen Riyal
1 Philippine Peso = 0.259 South African Rand
1 Philippine Peso = 101.31784 Zambian Kwacha
1 Philippine Peso = 7.0656 Zimbabwe dollar

BANKING INDUSTRY UPDATES

GIR settles at $81.35B
Preliminary data showed that the country’s gross international reserves (GIR) level stood at $81.35 billion as of end-September 2017.
Maria Almasara Cyd Tuaño-Amador, Bangko Sentral ng Pilipinas (BSP) Officer-in-Charge said this level was lower by $0.38 billion than end-August 2017 GIR of $81.73 billion but higher by $0.66 billion than the end-2016 level. 
The month-on-month decline in the GIR level was due mainly to outflows arising from the revaluation adjustments on the BSP’s gold holdings resulting from the decrease in the price of gold in the international market, payments made by the National Government (NG) for its maturing foreign exchange obligations, and foreign exchange operations of the BSP. 
These were partially offset by net foreign currency deposits by the NG and income from the BSP’s investments abroad.
The end-September 2017 GIR level can adequately cover 8.5 months’ worth of imports of goods and payments of services and primary income. 
It is also equivalent to 5.5 times the country’s short-term external debt based on original maturity and 3.6 times based on residual maturity.
Net international reserves (NIR), which refer to the difference between the BSP’s GIR and total short-term liabilities, decreased by $0.38 billion to $81.34 billion as of end-September 2017, compared to the end-August 2017 NIR of $81.72 billion.

BSP: Don’t deface notes

The BSP reminds the public that it is unlawful to willfully deface, mutilate, tear, burn or destroy, in any manner whatsoever, currency notes and coins issued by the BSP, pursuant to Presidential Decree No. 247.

The reminder came out as a video of the burning of what appears to be Philippine banknotes.  The BSP is currently investigating this incident for appropriate action.
Under the law, any person who shall violate this Decree shall be fined in the amount of not more than P20,000 and/or imprisoned for a period of not more than five years. 

Moreover, no person or entity, may put into circulation notes, coins or any other object or document, which in the opinion of the Monetary Board of the BSP might circulate as currency, as stipulated under Section 50 of the New Central Bank Act. 

Likewise, it is prohibited to reproduce or imitate the facsimiles of Bangko Sentral notes without prior authority from the BSP. The BSP is authorized to investigate, make arrests, conduct searches and seizures in accordance with law, for the purpose of maintaining the integrity of the
currency.

“We wish to highlight that the general public should take pride in our Philippine banknotes that honor Filipinos who played significant roles at various moments of our nation’s history as well as depict the country’s world heritage sites and iconic natural wonders. The Philippine banknotes remain a constant reminder of our ancestors’ patriotism and bravery, as well as centuries of journey for a better future for our countrymen,” BSP, in a statement said.

The BSP enjoins the cooperation of the public in our commitment in maintaining the integrity of the Philippine currency. Any act of desecration of our Philippine currency by mutilating, defacing or burning, should be reported to the nearest police/law enforcement agencies, for appropriate action or to the Currency Issue and Integrity Office, BSP, at Telephone Numbers:  988-4833 and 926-5092.
Bond issuance rules amended

The Monetary Board (MB) approved amendments to pertinent regulations to streamline the requirements on the issuance of bonds and commercial papers by banks and quasi-banks (QBs).



The amendments include removal of the minimum bond features, such as the requirement on eligible collaterals, which may constrain banks and QBs from issuing debt securities. The revised regulation however reiterates compliance with the securities law and its implementing rules and regulations.
The new regulation aims to provide greater flexibility to banks and QBs in tapping the capital market as an alternative funding source.  This is also consistent with the initiatives of the BSP, together with other financial regulators, to spur the development of the domestic bond market.
 
Swap agreement signed

The Bank of Japan, acting as agent for the Minister of Finance of Japan, and the Bangko Sentral ng Pilipinas, signed the Restatement Agreement of the third Bilateral Swap Arrangement (restated BSA) which took effect last week. 

The BSA enables the Philippines to swap its local currency against Japanese yen, in addition to US dollars of up to $12 billion equivalent for the Philippines and $500 million for Japan.

The authorities of both countries believe that the strengthened bilateral financial cooperation will contribute to the stability of financial markets, promote the use of local currency including the Japanese Yen in Asia in the medium term, and thereby further develop growing economic and trade ties between the Philippines and Japan.
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