October 21, 2017, 9:18 am
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1 Philippine Peso = 0.07128 UAE Dirham
1 Philippine Peso = 2.18168 Albanian Lek
1 Philippine Peso = 0.0346 Neth Antilles Guilder
1 Philippine Peso = 0.33849 Argentine Peso
1 Philippine Peso = 0.02474 Australian Dollar
1 Philippine Peso = 0.03455 Aruba Florin
1 Philippine Peso = 0.03882 Barbados Dollar
1 Philippine Peso = 1.59705 Bangladesh Taka
1 Philippine Peso = 0.03208 Bulgarian Lev
1 Philippine Peso = 0.00732 Bahraini Dinar
1 Philippine Peso = 33.78397 Burundi Franc
1 Philippine Peso = 0.01941 Bermuda Dollar
1 Philippine Peso = 0.02639 Brunei Dollar
1 Philippine Peso = 0.13315 Bolivian Boliviano
1 Philippine Peso = 0.06146 Brazilian Real
1 Philippine Peso = 0.01941 Bahamian Dollar
1 Philippine Peso = 1.26213 Bhutan Ngultrum
1 Philippine Peso = 0.20042 Botswana Pula
1 Philippine Peso = 388.58696 Belarus Ruble
1 Philippine Peso = 0.03878 Belize Dollar
1 Philippine Peso = 0.02429 Canadian Dollar
1 Philippine Peso = 0.01906 Swiss Franc
1 Philippine Peso = 12.12442 Chilean Peso
1 Philippine Peso = 0.1285 Chinese Yuan
1 Philippine Peso = 56.61879 Colombian Peso
1 Philippine Peso = 10.99029 Costa Rica Colon
1 Philippine Peso = 0.01941 Cuban Peso
1 Philippine Peso = 1.81172 Cape Verde Escudo
1 Philippine Peso = 0.42217 Czech Koruna
1 Philippine Peso = 3.44992 Djibouti Franc
1 Philippine Peso = 0.12229 Danish Krone
1 Philippine Peso = 0.91751 Dominican Peso
1 Philippine Peso = 2.21396 Algerian Dinar
1 Philippine Peso = 0.25699 Estonian Kroon
1 Philippine Peso = 0.34161 Egyptian Pound
1 Philippine Peso = 0.52232 Ethiopian Birr
1 Philippine Peso = 0.01642 Euro
1 Philippine Peso = 0.03984 Fiji Dollar
1 Philippine Peso = 0.01474 Falkland Islands Pound
1 Philippine Peso = 0.01481 British Pound
1 Philippine Peso = 0.08518 Ghanaian Cedi
1 Philippine Peso = 0.91421 Gambian Dalasi
1 Philippine Peso = 174.2236 Guinea Franc
1 Philippine Peso = 0.14253 Guatemala Quetzal
1 Philippine Peso = 3.96933 Guyana Dollar
1 Philippine Peso = 0.15143 Hong Kong Dollar
1 Philippine Peso = 0.45421 Honduras Lempira
1 Philippine Peso = 0.12329 Croatian Kuna
1 Philippine Peso = 1.19002 Haiti Gourde
1 Philippine Peso = 5.04988 Hungarian Forint
1 Philippine Peso = 262.46118 Indonesian Rupiah
1 Philippine Peso = 0.06762 Israeli Shekel
1 Philippine Peso = 1.26145 Indian Rupee
1 Philippine Peso = 22.63199 Iraqi Dinar
1 Philippine Peso = 665.74146 Iran Rial
1 Philippine Peso = 2.03707 Iceland Krona
1 Philippine Peso = 2.46487 Jamaican Dollar
1 Philippine Peso = 0.01373 Jordanian Dinar
1 Philippine Peso = 2.19732 Japanese Yen
1 Philippine Peso = 2.00019 Kenyan Shilling
1 Philippine Peso = 1.33191 Kyrgyzstan Som
1 Philippine Peso = 78.26087 Cambodia Riel
1 Philippine Peso = 8.11083 Comoros Franc
1 Philippine Peso = 17.46894 North Korean Won
1 Philippine Peso = 21.96991 Korean Won
1 Philippine Peso = 0.00585 Kuwaiti Dinar
1 Philippine Peso = 0.01592 Cayman Islands Dollar
1 Philippine Peso = 6.49204 Kazakhstan Tenge
1 Philippine Peso = 160.69488 Lao Kip
1 Philippine Peso = 29.21972 Lebanese Pound
1 Philippine Peso = 2.98137 Sri Lanka Rupee
1 Philippine Peso = 2.29173 Liberian Dollar
1 Philippine Peso = 0.26378 Lesotho Loti
1 Philippine Peso = 0.05918 Lithuanian Lita
1 Philippine Peso = 0.01204 Latvian Lat
1 Philippine Peso = 0.02652 Libyan Dinar
1 Philippine Peso = 0.18258 Moroccan Dirham
1 Philippine Peso = 0.33463 Moldovan Leu
1 Philippine Peso = 1.00621 Macedonian Denar
1 Philippine Peso = 26.37811 Myanmar Kyat
1 Philippine Peso = 47.47671 Mongolian Tugrik
1 Philippine Peso = 0.15597 Macau Pataca
1 Philippine Peso = 6.84045 Mauritania Ougulya
1 Philippine Peso = 0.65703 Mauritius Rupee
1 Philippine Peso = 0.30221 Maldives Rufiyaa
1 Philippine Peso = 13.90062 Malawi Kwacha
1 Philippine Peso = 0.36633 Mexican Peso
1 Philippine Peso = 0.08199 Malaysian Ringgit
1 Philippine Peso = 0.26335 Namibian Dollar
1 Philippine Peso = 6.8323 Nigerian Naira
1 Philippine Peso = 0.58773 Nicaragua Cordoba
1 Philippine Peso = 0.15441 Norwegian Krone
1 Philippine Peso = 2.0099 Nepalese Rupee
1 Philippine Peso = 0.02778 New Zealand Dollar
1 Philippine Peso = 0.00746 Omani Rial
1 Philippine Peso = 0.01941 Panama Balboa
1 Philippine Peso = 0.06268 Peruvian Nuevo Sol
1 Philippine Peso = 0.06206 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.03901 Pakistani Rupee
1 Philippine Peso = 0.06957 Polish Zloty
1 Philippine Peso = 109.45264 Paraguayan Guarani
1 Philippine Peso = 0.07337 Qatar Rial
1 Philippine Peso = 0.0755 Romanian New Leu
1 Philippine Peso = 1.11374 Russian Rouble
1 Philippine Peso = 16.1349 Rwanda Franc
1 Philippine Peso = 0.07279 Saudi Arabian Riyal
1 Philippine Peso = 0.15088 Solomon Islands Dollar
1 Philippine Peso = 0.26054 Seychelles Rupee
1 Philippine Peso = 0.12926 Sudanese Pound
1 Philippine Peso = 0.15816 Swedish Krona
1 Philippine Peso = 0.0264 Singapore Dollar
1 Philippine Peso = 0.01475 St Helena Pound
1 Philippine Peso = 0.43102 Slovak Koruna
1 Philippine Peso = 147.90373 Sierra Leone Leone
1 Philippine Peso = 10.81134 Somali Shilling
1 Philippine Peso = 402.56018 Sao Tome Dobra
1 Philippine Peso = 0.16984 El Salvador Colon
1 Philippine Peso = 9.99573 Syrian Pound
1 Philippine Peso = 0.26335 Swaziland Lilageni
1 Philippine Peso = 0.64344 Thai Baht
1 Philippine Peso = 0.04808 Tunisian Dinar
1 Philippine Peso = 0.04338 Tongan paʻanga
1 Philippine Peso = 0.07108 Turkish Lira
1 Philippine Peso = 0.12963 Trinidad Tobago Dollar
1 Philippine Peso = 0.58637 Taiwan Dollar
1 Philippine Peso = 43.42003 Tanzanian Shilling
1 Philippine Peso = 0.51417 Ukraine Hryvnia
1 Philippine Peso = 70.78804 Ugandan Shilling
1 Philippine Peso = 0.01941 United States Dollar
1 Philippine Peso = 0.5722 Uruguayan New Peso
1 Philippine Peso = 155.95885 Uzbekistan Sum
1 Philippine Peso = 0.1936 Venezuelan Bolivar
1 Philippine Peso = 440.93556 Vietnam Dong
1 Philippine Peso = 2.02426 Vanuatu Vatu
1 Philippine Peso = 0.04922 Samoa Tala
1 Philippine Peso = 10.76747 CFA Franc (BEAC)
1 Philippine Peso = 0.05241 East Caribbean Dollar
1 Philippine Peso = 10.69488 CFA Franc (BCEAO)
1 Philippine Peso = 1.94759 Pacific Franc
1 Philippine Peso = 4.85151 Yemen Riyal
1 Philippine Peso = 0.26339 South African Rand
1 Philippine Peso = 100.72787 Zambian Kwacha
1 Philippine Peso = 7.02446 Zimbabwe dollar

BOP rebounds in Q2

The country’s balance of payments position (BOP) rebounded in the second quarter of this year, yielding a surplus of $289 million after posting a deficit in the first quarter of the year. 

But this was still lower than the $843 million surplus registered in the same quarter last year due to less net inflows or net borrowing by residents from the rest of the world in the financial account even as the current account reversed to a surplus. 

Net inflows in the financial account declined to $688 million due mainly to net outflows in the other investment account and the lower net inflows of direct investments. 

Residents repaid and prepaid their external debt and some invested in foreign equities. 

Meanwhile, the current account registered a surplus of $15 million from a deficit of $1.3 billion in the second quarter. 

Global economic conditions continued to improve as indicators of activity signaled sustained expansion in the US, euro area, and China even with slower growth in Japan and India. 

Overall growth prospects for the global economy remained broadly positive which helped improve the country’s external trade and sustain investor confidence on the Philippine economy.

The current account registered a surplus of $15 million in the second quarter of this year, a reversal from the $1.3 billion deficit recorded during the same period last year. 

This development was brought about mainly by higher net receipts in the trade-in-services, and primary and secondary income accounts which mitigated the widening trade-in-goods deficit during the quarter.

The trade-in-goods deficit increased to $9.7 billion in the second quarter of this year from $9.5 billion even as exports of goods started to recover. 

Exports of goods rose by 17.6 percent to $12.2 billion from $10.4 billion with increases recorded across all major commodity groups, except petroleum products, on the back of increased demand from the country’s major trading partners. 

Imports of goods recorded $22 billion, higher by 10.3 percent than the $19.9 billion due mainly to increased imports of raw materials and intermediate goods.

Net receipts in trade-in-services expanded by 69 percent to reach $2.3 billion, compared to the $1.3 billion net receipts last year. 

The upturn was attributed largely to lower net payments in travel, transport, and financial services and higher net receipts in technical, trade-related, and other business services, and computer services. 

These gains more than compensated for lower net receipts in manufacturing services as well as higher net payments in charges for the use of intellectual property. 

Export revenues in business process outsourcing services amounted to $5.5 billion, or an increment of 7 percent from the $5.1 billion receipts in Q2 2016.

The primary income account posted net receipts of $1 billion, higher than the $696 million net receipts in Q2 2016. 

The 44.8 percent increment was due largely to lower net payments of investment income arising mainly from decreased interest payments on bonds issued by the National Government (NG) coupled with lower dividends paid to non-resident portfolio investors which mitigated the increased reinvested earnings in favor of  foreign direct investors.

Net receipts in the capital account improved to $37 million in Q2 2017 from $26 million in Q2 2016. Inflows arising from the NG’s receipts in other capital transfers were higher during the quarter.

The financial account registered net inflows of $688 million in the second quarter of 2017, down by 70.2 percent than the level posted in the same quarter last year. 

The reduction in net inflows was brought about mainly by the other investment account which realized net outflows, a turnaround from the net inflows recorded in Q2 2016, and the decrease in net inflows of direct investments during the quarter. 

These developments partly dampened the reversal of the portfolio investment account to net inflows from net outflows. 

Direct investments recorded net inflows of $2.1 billion in Q2 2017, lower than the $2.4 billion net inflows recorded in the same quarter a year ago. 

This developed as the decline in inflows more than offset the decline in outflows.  In particular, FDI dropped by 25.7 percent to $2.1 billion. 

By component, non-residents’ net placements of equity capital in local affiliates fell by 95.5 percent to $40 million. 

Gross placements originated mostly from the US, Japan, Hongkong, Singapore and Taiwan. 

These were channeled to the real estate; financial and insurance; electricity, gas, steam and air conditioning supply; wholesale and retail trade; and manufacturing activities. 

The portfolio investment account registered net inflows of $244 million in Q2 2017, a reversal from the $880 million net outflows in Q2 2016 on account of the 72.7 percent decline in residents’ net acquisition of financial assets, coupled with the 59.2 percent increase in residents’ net incurrence of liabilities, or foreign portfolio investments, which amounted to $585 million.

For the period January-June 2017, the BOP posted a deficit amounting to $706 million from a surplus of $634 million in the comparable period in 2016.

The country’s gross international reserves (GIR) amounted to $81.3 billion as of end-June 2017, higher than the $80.9 billion level as of end-March 2017 but lower than the $85.3 billion level as of end-June 2016. 

At this level, reserves could sufficiently cover 8.5 months’ worth of imports of goods and payments of services and income. It was also equivalent to 5.6 times the country’s short-term external debt based on original maturity and 3.8 times based on residual maturity.
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