July 20, 2018, 2:45 am
Facebook iconTwitter iconYouTube iconGoogle+ icon
1 Philippine Peso = 0.0687 UAE Dirham
1 Philippine Peso = 2.01833 Albanian Lek
1 Philippine Peso = 0.03442 Neth Antilles Guilder
1 Philippine Peso = 0.51646 Argentine Peso
1 Philippine Peso = 0.02528 Australian Dollar
1 Philippine Peso = 0.0333 Aruba Florin
1 Philippine Peso = 0.03741 Barbados Dollar
1 Philippine Peso = 1.57108 Bangladesh Taka
1 Philippine Peso = 0.03151 Bulgarian Lev
1 Philippine Peso = 0.00707 Bahraini Dinar
1 Philippine Peso = 32.75309 Burundi Franc
1 Philippine Peso = 0.01871 Bermuda Dollar
1 Philippine Peso = 0.02527 Brunei Dollar
1 Philippine Peso = 0.12832 Bolivian Boliviano
1 Philippine Peso = 0.07203 Brazilian Real
1 Philippine Peso = 0.01871 Bahamian Dollar
1 Philippine Peso = 1.27899 Bhutan Ngultrum
1 Philippine Peso = 0.19255 Botswana Pula
1 Philippine Peso = 374.4856 Belarus Ruble
1 Philippine Peso = 0.03737 Belize Dollar
1 Philippine Peso = 0.02464 Canadian Dollar
1 Philippine Peso = 0.01868 Swiss Franc
1 Philippine Peso = 12.20576 Chilean Peso
1 Philippine Peso = 0.12563 Chinese Yuan
1 Philippine Peso = 53.5578 Colombian Peso
1 Philippine Peso = 10.55649 Costa Rica Colon
1 Philippine Peso = 0.01871 Cuban Peso
1 Philippine Peso = 1.77142 Cape Verde Escudo
1 Philippine Peso = 0.41506 Czech Koruna
1 Philippine Peso = 3.32024 Djibouti Franc
1 Philippine Peso = 0.11972 Danish Krone
1 Philippine Peso = 0.93303 Dominican Peso
1 Philippine Peso = 2.19981 Algerian Dinar
1 Philippine Peso = 0.25129 Estonian Kroon
1 Philippine Peso = 0.33389 Egyptian Pound
1 Philippine Peso = 0.51106 Ethiopian Birr
1 Philippine Peso = 0.01606 Euro
1 Philippine Peso = 0.03917 Fiji Dollar
1 Philippine Peso = 0.01429 Falkland Islands Pound
1 Philippine Peso = 0.01431 British Pound
1 Philippine Peso = 0.08962 Ghanaian Cedi
1 Philippine Peso = 0.88982 Gambian Dalasi
1 Philippine Peso = 168.66816 Guinea Franc
1 Philippine Peso = 0.14005 Guatemala Quetzal
1 Philippine Peso = 3.88103 Guyana Dollar
1 Philippine Peso = 0.1468 Hong Kong Dollar
1 Philippine Peso = 0.44747 Honduras Lempira
1 Philippine Peso = 0.1187 Croatian Kuna
1 Philippine Peso = 1.26057 Haiti Gourde
1 Philippine Peso = 5.20183 Hungarian Forint
1 Philippine Peso = 269.36027 Indonesian Rupiah
1 Philippine Peso = 0.06796 Israeli Shekel
1 Philippine Peso = 1.28159 Indian Rupee
1 Philippine Peso = 22.25963 Iraqi Dinar
1 Philippine Peso = 813.69248 Iran Rial
1 Philippine Peso = 1.99588 Iceland Krona
1 Philippine Peso = 2.43547 Jamaican Dollar
1 Philippine Peso = 0.01325 Jordanian Dinar
1 Philippine Peso = 2.11107 Japanese Yen
1 Philippine Peso = 1.8771 Kenyan Shilling
1 Philippine Peso = 1.27484 Kyrgyzstan Som
1 Philippine Peso = 75.70146 Cambodia Riel
1 Philippine Peso = 7.90311 Comoros Franc
1 Philippine Peso = 16.83502 North Korean Won
1 Philippine Peso = 21.15413 Korean Won
1 Philippine Peso = 0.00566 Kuwaiti Dinar
1 Philippine Peso = 0.01534 Cayman Islands Dollar
1 Philippine Peso = 6.4508 Kazakhstan Tenge
1 Philippine Peso = 157.22035 Lao Kip
1 Philippine Peso = 28.15189 Lebanese Pound
1 Philippine Peso = 2.98915 Sri Lanka Rupee
1 Philippine Peso = 3.00412 Liberian Dollar
1 Philippine Peso = 0.24822 Lesotho Loti
1 Philippine Peso = 0.05703 Lithuanian Lita
1 Philippine Peso = 0.01161 Latvian Lat
1 Philippine Peso = 0.02573 Libyan Dinar
1 Philippine Peso = 0.17723 Moroccan Dirham
1 Philippine Peso = 0.31076 Moldovan Leu
1 Philippine Peso = 0.98373 Macedonian Denar
1 Philippine Peso = 26.78638 Myanmar Kyat
1 Philippine Peso = 45.80995 Mongolian Tugrik
1 Philippine Peso = 0.15122 Macau Pataca
1 Philippine Peso = 6.64048 Mauritania Ougulya
1 Philippine Peso = 0.64347 Mauritius Rupee
1 Philippine Peso = 0.29125 Maldives Rufiyaa
1 Philippine Peso = 13.40105 Malawi Kwacha
1 Philippine Peso = 0.35353 Mexican Peso
1 Philippine Peso = 0.07589 Malaysian Ringgit
1 Philippine Peso = 0.24819 Namibian Dollar
1 Philippine Peso = 6.7153 Nigerian Naira
1 Philippine Peso = 0.58586 Nicaragua Cordoba
1 Philippine Peso = 0.15284 Norwegian Krone
1 Philippine Peso = 2.04293 Nepalese Rupee
1 Philippine Peso = 0.02753 New Zealand Dollar
1 Philippine Peso = 0.00719 Omani Rial
1 Philippine Peso = 0.01871 Panama Balboa
1 Philippine Peso = 0.06114 Peruvian Nuevo Sol
1 Philippine Peso = 0.06073 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.39618 Pakistani Rupee
1 Philippine Peso = 0.0692 Polish Zloty
1 Philippine Peso = 106.97905 Paraguayan Guarani
1 Philippine Peso = 0.06809 Qatar Rial
1 Philippine Peso = 0.07472 Romanian New Leu
1 Philippine Peso = 1.18 Russian Rouble
1 Philippine Peso = 15.95267 Rwanda Franc
1 Philippine Peso = 0.07015 Saudi Arabian Riyal
1 Philippine Peso = 0.14747 Solomon Islands Dollar
1 Philippine Peso = 0.25122 Seychelles Rupee
1 Philippine Peso = 0.33483 Sudanese Pound
1 Philippine Peso = 0.16573 Swedish Krona
1 Philippine Peso = 0.02554 Singapore Dollar
1 Philippine Peso = 0.0143 St Helena Pound
1 Philippine Peso = 0.41538 Slovak Koruna
1 Philippine Peso = 153.38571 Sierra Leone Leone
1 Philippine Peso = 10.68088 Somali Shilling
1 Philippine Peso = 393.68313 Sao Tome Dobra
1 Philippine Peso = 0.16367 El Salvador Colon
1 Philippine Peso = 9.633 Syrian Pound
1 Philippine Peso = 0.24845 Swaziland Lilageni
1 Philippine Peso = 0.62252 Thai Baht
1 Philippine Peso = 0.04952 Tunisian Dinar
1 Philippine Peso = 0.04351 Tongan paʻanga
1 Philippine Peso = 0.08966 Turkish Lira
1 Philippine Peso = 0.12587 Trinidad Tobago Dollar
1 Philippine Peso = 0.57159 Taiwan Dollar
1 Philippine Peso = 42.49906 Tanzanian Shilling
1 Philippine Peso = 0.49158 Ukraine Hryvnia
1 Philippine Peso = 69.56977 Ugandan Shilling
1 Philippine Peso = 0.01871 United States Dollar
1 Philippine Peso = 0.58277 Uruguayan New Peso
1 Philippine Peso = 145.09914 Uzbekistan Sum
1 Philippine Peso = 2239.05724 Venezuelan Bolivar
1 Philippine Peso = 431.12608 Vietnam Dong
1 Philippine Peso = 2.04265 Vanuatu Vatu
1 Philippine Peso = 0.04883 Samoa Tala
1 Philippine Peso = 10.52881 CFA Franc (BEAC)
1 Philippine Peso = 0.05051 East Caribbean Dollar
1 Philippine Peso = 10.52881 CFA Franc (BCEAO)
1 Philippine Peso = 1.90591 Pacific Franc
1 Philippine Peso = 4.67265 Yemen Riyal
1 Philippine Peso = 0.24818 South African Rand
1 Philippine Peso = 97.07258 Zambian Kwacha
1 Philippine Peso = 6.76955 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.
Rating: 
No votes yet

Column of the Day

Tomodachi Tangle

Bernard Karganilla's picture
By BERNARD KARGANILLA | July 19,2018
‘Jose Rizal’s life is serialized as a Japanese manga (comics).’

Opinion of the Day

The Departure Lounge

Philip S. Chua's picture
By PHILIP S. CHUA | July 19, 2018
‘Growing old is a great privilege denied many. Let us relish every second we have left.’