October 19, 2017, 7:09 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

BDOPB FORUM: PH banks can support infrastructure projects

WITH the government allotting some P9 trillion for infrastructure development in the next six years, a key executive of one of the country’s biggest water concessionaires has expressed confidence the local banking industry has enough liquidity to finance the lined-up infrastructure undertakings. 

In a forum titled “Build, Build, Build—Achieving Sustainable & Inclusive Growth” held recently by BDO Private Bank (BDOPB) for select high net worth clients, Maynilad president and chief executive officer Ramoncito S. Fernandez said as long as the government can maintain a stable economy and the sanctity of contracts are guaranteed and honored, private companies will be motivated to invest in these infrastructure projects. 

At the same time, he urged local businesses to keep their investments within the confines of the domestic economy to boost the Philippine banking industry and also positively impact the infrastructure initiatives of the government.

“Continue believing in the Philippine banking industry. Don’t bring your money outside. Our banks have enough liquidity to support these projects,” he told the forum’s attendees. 

BDOPB, s of end-June 2017, has assets under management worth P371.28 billion. 

It has built an onshore model that serves the market’s emerging wealthy to the ultra-high net worth segment, comparable to that of its bigger global counterparts. 

While private banking is still a developing market in the Philippines, BDOPB has already developed a niche segment to meet key objectives such as growing personal investments, establishing a stable family wealth plan, and estate planning. 

Aside from Fernandez, other invited panelists in the event include former Finance Sec. Margarito “Gary” Teves, International Finance Corp. Senior Investment Officer Lulu Baclagon, and Marie Christine Tang, an economist and local partner in the Philippines of New York-based think tank Global Source. Meanwhile, CNN Philippines president and Emmy Awards winner Armie Jarin-Bennett served as the Forum’s moderator. 

Teves, for his part, said the government should encourage more private sector participation in projects that are commercially viable other than just relying on a hybrid Public-Private Partnerships (PPP). 

Under a hybrid PPP, government will build the infrastructure projects and later bid out the operations and maintenance to the private sector. 

“I would not advise the setup wherein it’s the government first that spends for the project and then the private sector comes in later on for the maintenance. The private sector should be fully involved with the project implementation at the onset,” he said. 

“Another problem with big-ticket mass transport projects is they will surely entail huge user fees to recover the costs. The government needs to subsidize it if the rates have to be kept manageable.” 

Baclagon, on one hand, said there should be long-term planning in the development of projects. 

“We can’t stop with the subway project. We’ve always been piecemeal with our planning and project implementation. Metro Manila would need 700 kilometers in mass transport system to sufficiently address the needs of people living and working in Metro Manila,” she said. 

One of the highlights of the government’s ambitious infrastructure initiative is the P227- billion Mega Manila Subway project, a 25-km underground transportation system connecting major business districts and government centers. In its first year, it is expected to serve 370,000 passengers per day. 

It will be funded through Official Development Assistance. 

Meanwhile, Tang said that the government should be clear on how projects would be funded, whether through taxes or user fees. 

The government plans to appropriate P847.2 billion in the 2017 national budget for infrastructure projects, or approximately 5.3 percent of the country’s gross domestic product (GDP), the highest allotment of a portion of GDP for infrastructure spending in 30 years. 

BDOPB is a wholly owned subsidiary of BDO Unibank serving the affluent market. 

BDO is a full-service universal bank which provides a wide range of corporate and retail banking services. 

These services include traditional loan and deposit products, as well as treasury, trust banking, investment banking, private banking, rural banking, cash management, leasing and finance, remittance, insurance, retail cash cards and credit card services. 

BDO has one of the largest distribution networks, with more than 1,100 operating branches and over 3,700 ATMs nationwide. 

It also has a full-service branch in Hong Kong as well as 26 overseas remittance and representative offices in Asia, Europe, North America and the Middle East. 

BDO ranked as the largest bank in terms of total assets, loans, deposits and trust funds under management based on published statements of condition as of end-first quarter.
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