April 29, 2017, 11:47 am
Facebook iconTwitter iconYouTube iconGoogle+ icon
1 Philippine Peso = 0.07338 UAE Dirham
1 Philippine Peso = 2.47153 Albanian Lek
1 Philippine Peso = 0.03551 Neth Antilles Guilder
1 Philippine Peso = 0.30767 Argentine Peso
1 Philippine Peso = 0.0267 Australian Dollar
1 Philippine Peso = 0.03576 Aruba Florin
1 Philippine Peso = 0.03996 Barbados Dollar
1 Philippine Peso = 1.62058 Bangladesh Taka
1 Philippine Peso = 0.03591 Bulgarian Lev
1 Philippine Peso = 0.00753 Bahraini Dinar
1 Philippine Peso = 33.97123 Burundi Franc
1 Philippine Peso = 0.01998 Bermuda Dollar
1 Philippine Peso = 0.02787 Brunei Dollar
1 Philippine Peso = 0.13766 Bolivian Boliviano
1 Philippine Peso = 0.06313 Brazilian Real
1 Philippine Peso = 0.01998 Bahamian Dollar
1 Philippine Peso = 1.28122 Bhutan Ngultrum
1 Philippine Peso = 0.20824 Botswana Pula
1 Philippine Peso = 400.00001 Belarus Ruble
1 Philippine Peso = 0.03992 Belize Dollar
1 Philippine Peso = 0.02724 Canadian Dollar
1 Philippine Peso = 0.01979 Swiss Franc
1 Philippine Peso = 13.24575 Chilean Peso
1 Philippine Peso = 0.13775 Chinese Yuan
1 Philippine Peso = 58.71728 Colombian Peso
1 Philippine Peso = 11.01139 Costa Rica Colon
1 Philippine Peso = 0.01998 Cuban Peso
1 Philippine Peso = 2.01439 Cape Verde Escudo
1 Philippine Peso = 0.49203 Czech Koruna
1 Philippine Peso = 3.51329 Djibouti Franc
1 Philippine Peso = 0.13587 Danish Krone
1 Philippine Peso = 0.94126 Dominican Peso
1 Philippine Peso = 2.18054 Algerian Dinar
1 Philippine Peso = 0.28573 Estonian Kroon
1 Philippine Peso = 0.36064 Egyptian Pound
1 Philippine Peso = 0.45667 Ethiopian Birr
1 Philippine Peso = 0.01826 Euro
1 Philippine Peso = 0.04187 Fiji Dollar
1 Philippine Peso = 0.01546 Falkland Islands Pound
1 Philippine Peso = 0.01544 British Pound
1 Philippine Peso = 0.08339 Ghanaian Cedi
1 Philippine Peso = 0.88012 Gambian Dalasi
1 Philippine Peso = 183.86813 Guinea Franc
1 Philippine Peso = 0.14668 Guatemala Quetzal
1 Philippine Peso = 4.08292 Guyana Dollar
1 Philippine Peso = 0.1554 Hong Kong Dollar
1 Philippine Peso = 0.46693 Honduras Lempira
1 Philippine Peso = 0.13577 Croatian Kuna
1 Philippine Peso = 1.35684 Haiti Gourde
1 Philippine Peso = 5.7015 Hungarian Forint
1 Philippine Peso = 266.45355 Indonesian Rupiah
1 Philippine Peso = 0.07222 Israeli Shekel
1 Philippine Peso = 1.28482 Indian Rupee
1 Philippine Peso = 23.5964 Iraqi Dinar
1 Philippine Peso = 648.13188 Iran Rial
1 Philippine Peso = 2.12587 Iceland Krona
1 Philippine Peso = 2.56723 Jamaican Dollar
1 Philippine Peso = 0.01416 Jordanian Dinar
1 Philippine Peso = 2.22689 Japanese Yen
1 Philippine Peso = 2.05694 Kenyan Shilling
1 Philippine Peso = 1.34302 Kyrgyzstan Som
1 Philippine Peso = 80.01199 Cambodia Riel
1 Philippine Peso = 9.22717 Comoros Franc
1 Philippine Peso = 17.98202 North Korean Won
1 Philippine Peso = 22.74046 Korean Won
1 Philippine Peso = 0.00607 Kuwaiti Dinar
1 Philippine Peso = 0.01638 Cayman Islands Dollar
1 Philippine Peso = 6.28332 Kazakhstan Tenge
1 Philippine Peso = 163.51649 Lao Kip
1 Philippine Peso = 30.09391 Lebanese Pound
1 Philippine Peso = 3.03696 Sri Lanka Rupee
1 Philippine Peso = 1.81818 Liberian Dollar
1 Philippine Peso = 0.26693 Lesotho Loti
1 Philippine Peso = 0.06091 Lithuanian Lita
1 Philippine Peso = 0.0124 Latvian Lat
1 Philippine Peso = 0.02813 Libyan Dinar
1 Philippine Peso = 0.1977 Moroccan Dirham
1 Philippine Peso = 0.38132 Moldovan Leu
1 Philippine Peso = 1.11848 Macedonian Denar
1 Philippine Peso = 27.13287 Myanmar Kyat
1 Philippine Peso = 48.19181 Mongolian Tugrik
1 Philippine Peso = 0.16005 Macau Pataca
1 Philippine Peso = 7.13467 Mauritania Ougulya
1 Philippine Peso = 0.69331 Mauritius Rupee
1 Philippine Peso = 0.30689 Maldives Rufiyaa
1 Philippine Peso = 14.34486 Malawi Kwacha
1 Philippine Peso = 0.38017 Mexican Peso
1 Philippine Peso = 0.08672 Malaysian Ringgit
1 Philippine Peso = 0.26573 Namibian Dollar
1 Philippine Peso = 6.28372 Nigerian Naira
1 Philippine Peso = 0.59521 Nicaragua Cordoba
1 Philippine Peso = 0.17029 Norwegian Krone
1 Philippine Peso = 2.03996 Nepalese Rupee
1 Philippine Peso = 0.02907 New Zealand Dollar
1 Philippine Peso = 0.00769 Omani Rial
1 Philippine Peso = 0.01998 Panama Balboa
1 Philippine Peso = 0.06481 Peruvian Nuevo Sol
1 Philippine Peso = 0.06333 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.09251 Pakistani Rupee
1 Philippine Peso = 0.07709 Polish Zloty
1 Philippine Peso = 111.06893 Paraguayan Guarani
1 Philippine Peso = 0.07275 Qatar Rial
1 Philippine Peso = 0.08271 Romanian New Leu
1 Philippine Peso = 1.1388 Russian Rouble
1 Philippine Peso = 16.36144 Rwanda Franc
1 Philippine Peso = 0.07493 Saudi Arabian Riyal
1 Philippine Peso = 0.15666 Solomon Islands Dollar
1 Philippine Peso = 0.27063 Seychelles Rupee
1 Philippine Peso = 0.13306 Sudanese Pound
1 Philippine Peso = 0.17603 Swedish Krona
1 Philippine Peso = 0.02788 Singapore Dollar
1 Philippine Peso = 0.01547 St Helena Pound
1 Philippine Peso = 0.44368 Slovak Koruna
1 Philippine Peso = 148.85115 Sierra Leone Leone
1 Philippine Peso = 10.96903 Somali Shilling
1 Philippine Peso = 447.57244 Sao Tome Dobra
1 Philippine Peso = 0.17427 El Salvador Colon
1 Philippine Peso = 10.28931 Syrian Pound
1 Philippine Peso = 0.26494 Swaziland Lilageni
1 Philippine Peso = 0.69131 Thai Baht
1 Philippine Peso = 0.04823 Tunisian Dinar
1 Philippine Peso = 0.04623 Tongan paʻanga
1 Philippine Peso = 0.07099 Turkish Lira
1 Philippine Peso = 0.13406 Trinidad Tobago Dollar
1 Philippine Peso = 0.60376 Taiwan Dollar
1 Philippine Peso = 44.53547 Tanzanian Shilling
1 Philippine Peso = 0.52997 Ukraine Hryvnia
1 Philippine Peso = 72.76723 Ugandan Shilling
1 Philippine Peso = 0.01998 United States Dollar
1 Philippine Peso = 0.56084 Uruguayan New Peso
1 Philippine Peso = 73.94606 Uzbekistan Sum
1 Philippine Peso = 0.19929 Venezuelan Bolivar
1 Philippine Peso = 454.32568 Vietnam Dong
1 Philippine Peso = 2.15265 Vanuatu Vatu
1 Philippine Peso = 0.05182 Samoa Tala
1 Philippine Peso = 11.97263 CFA Franc (BEAC)
1 Philippine Peso = 0.05395 East Caribbean Dollar
1 Philippine Peso = 12 CFA Franc (BCEAO)
1 Philippine Peso = 2.17123 Pacific Franc
1 Philippine Peso = 4.99201 Yemen Riyal
1 Philippine Peso = 0.26515 South African Rand
1 Philippine Peso = 103.68632 Zambian Kwacha
1 Philippine Peso = 7.23077 Zimbabwe dollar

China FX reserves down

BEIJING - China’s foreign exchange reserves fell to near six-year lows in December, but held just above the critical $3 trillion level, as authorities stepped in to support the weakening yuan ahead of U.S. President-elect Donald Trump’s inauguration.

China’s reserves shrank by $41 billion in December, slightly less than feared but the sixth straight month of declines, data showed on Saturday, after a week in which Beijing moved aggressively to punish those betting against the currency and make it harder for money to get out of the country.

Analysts had forecast a drop of $51 billion.

For the year as a whole, China’s reserves fell nearly $320 billion to $3.011 trillion, on top of a record drop of $513 billion in 2015.

While the $3 trillion mark is not seen as a firm “line in the sand” for Beijing, concerns are swirling in global financial markets over the speed with which the country is depleting its ammunition to defend the currency and staunch capital outflows.

Some analysts estimate it needs to retain a minimum of $2.6 trillion to $2.8 trillion under the International Monetary Fund’s (IMF’s) adequacy measures.

If pressure on the yuan persists, analysts suspect China will continue to tighten the screws on outflows via administrative and regulatory means, while pouncing sporadically on short sellers in forex markets to discourage them from building up excessive bets against the currency.

But if it continues to burn through reserves at a rapid rate, some strategists believe China’s leaders may have little choice but to sanction another big “one-off” devaluation like that in 2015, which would likely roil global financial markets and stoke tensions with the new Trump administration.

The yuan depreciated 6.6 percent against the surging dollar in 2016, its biggest one-year loss since 1994, and is expected to weaken further this year if the dollar’s rally has legs.

Adding to the pressure, Trump has vowed to label China a currency manipulator on his first day in office, and has threatened to slap huge tariffs on imports of Chinese goods.

That has left Chinese eager to get money out of the country, creating what some researchers describe as a potentially destructive negative feedback loop, where fears of further yuan falls spur outflows that pile fresh pressure on the currency.

“For 2016 as a whole we estimate total capital outflows to have been around $710 billion,” Capital Economics’ China economist Chang Liu told Reuters in an email.

Capital Economics estimated net outflows in November and December alone were $76 billion and $66 billion, respectively.

The main reason China’s forex reserves fell in 2016 was because the central bank used them to stabilise the yuan, the country’s foreign exchange regulator said in a statement after the data.

With the dollar gaining ground, a decline in the value of other currencies held by China also contributed to the decline, the State Administration of Foreign Exchange (SAFE) said.

“Forex reserves are likely to fall again in January,” China’s SWS MU Fund Management said in a note, predicting the U.S. economy and the dollar would continue to strengthen.

China has stepped up efforts in recent weeks to shore up the yuan and curb capital outflows, sparking speculation it wants a firm grip on the currency ahead of Trump’s inauguration on Jan. 20 and the long Lunar New Year holidays at the end of the month.

State banks have bought yuan and sold dollars and regulators have tightened restrictions on individuals and companies who want to move funds out of the country, while denying they are imposing fresh capital controls.

This week the central bank also set higher daily guidance rates for the yuan, hiking it the most in a decade on Friday, and Beijing was suspected of pushing up yuan borrowing costs in Hong Kong to discourage offshore investors from making bearish bets on the currency.

SAFE said in late December that net cross-border capital outflows were expected to narrow in the fourth quarter in 2016, while the People’s Bank of China (PBOC) said last week that it would push reforms of the yuan regime, while keeping the currency basically stable in 2017. 

The PBOC also raised reporting requirements for overseas transfers last Friday. The reporting threshold for cash and overseas transfers was cut to just 50,000 yuan ($7,230) from 200,000 yuan.

Regulators recently said they would step up monitoring of individual foreign exchange purchases to close loopholes, but the $50,000 yearly quota would not change.

While the yuan has soared this week as China bears down on the market, a Reuters poll showed it is expected to slide at least 4 percent this year, largely as expectations of interest rate hikes in the United States drive the dollar higher. – Reuters 
Rating: 
No votes yet
Twitter icon
Facebook icon
Google icon
LinkedIn icon
Pinterest icon
Reddit icon
Yahoo! icon
e-mail icon

Column of the Day

A modern Nostradamus

By NESTOR MATA | April 27,2017
531 View(s) 0 Comment(s)
‘A mystic predicted Donald Trump’s presidency and now claims to have a date for World War III.’

Opinion of the Day

What about capital punishment?

By DAHLI ASPILLERA | April 28, 2017
237 View(s) 0 Comment(s)
‘Convicts to the gallows--not only indigent criminals, but also corrupt politicians, civil servants, judges who, commit plunder.’