July 23, 2018, 3:00 pm
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1 Philippine Peso = 0.06891 UAE Dirham
1 Philippine Peso = 1.99812 Albanian Lek
1 Philippine Peso = 0.03452 Neth Antilles Guilder
1 Philippine Peso = 0.51726 Argentine Peso
1 Philippine Peso = 0.02526 Australian Dollar
1 Philippine Peso = 0.0334 Aruba Florin
1 Philippine Peso = 0.03752 Barbados Dollar
1 Philippine Peso = 1.57017 Bangladesh Taka
1 Philippine Peso = 0.03144 Bulgarian Lev
1 Philippine Peso = 0.00709 Bahraini Dinar
1 Philippine Peso = 32.85141 Burundi Franc
1 Philippine Peso = 0.01876 Bermuda Dollar
1 Philippine Peso = 0.02546 Brunei Dollar
1 Philippine Peso = 0.12871 Bolivian Boliviano
1 Philippine Peso = 0.07076 Brazilian Real
1 Philippine Peso = 0.01876 Bahamian Dollar
1 Philippine Peso = 1.29362 Bhutan Ngultrum
1 Philippine Peso = 0.19433 Botswana Pula
1 Philippine Peso = 375.60976 Belarus Ruble
1 Philippine Peso = 0.03748 Belize Dollar
1 Philippine Peso = 0.02466 Canadian Dollar
1 Philippine Peso = 0.01861 Swiss Franc
1 Philippine Peso = 12.39231 Chilean Peso
1 Philippine Peso = 0.12694 Chinese Yuan
1 Philippine Peso = 53.79925 Colombian Peso
1 Philippine Peso = 10.56379 Costa Rica Colon
1 Philippine Peso = 0.01876 Cuban Peso
1 Philippine Peso = 1.76454 Cape Verde Escudo
1 Philippine Peso = 0.41373 Czech Koruna
1 Philippine Peso = 3.33021 Djibouti Franc
1 Philippine Peso = 0.11925 Danish Krone
1 Philippine Peso = 0.92946 Dominican Peso
1 Philippine Peso = 2.2063 Algerian Dinar
1 Philippine Peso = 0.2502 Estonian Kroon
1 Philippine Peso = 0.3349 Egyptian Pound
1 Philippine Peso = 0.51238 Ethiopian Birr
1 Philippine Peso = 0.01599 Euro
1 Philippine Peso = 0.03929 Fiji Dollar
1 Philippine Peso = 0.01427 Falkland Islands Pound
1 Philippine Peso = 0.0143 British Pound
1 Philippine Peso = 0.08965 Ghanaian Cedi
1 Philippine Peso = 0.8925 Gambian Dalasi
1 Philippine Peso = 169.1182 Guinea Franc
1 Philippine Peso = 0.14047 Guatemala Quetzal
1 Philippine Peso = 3.89268 Guyana Dollar
1 Philippine Peso = 0.14725 Hong Kong Dollar
1 Philippine Peso = 0.44908 Honduras Lempira
1 Philippine Peso = 0.11833 Croatian Kuna
1 Philippine Peso = 1.26435 Haiti Gourde
1 Philippine Peso = 5.20544 Hungarian Forint
1 Philippine Peso = 271.57598 Indonesian Rupiah
1 Philippine Peso = 0.06798 Israeli Shekel
1 Philippine Peso = 1.28997 Indian Rupee
1 Philippine Peso = 22.32645 Iraqi Dinar
1 Philippine Peso = 817.63602 Iran Rial
1 Philippine Peso = 1.99062 Iceland Krona
1 Philippine Peso = 2.44371 Jamaican Dollar
1 Philippine Peso = 0.01329 Jordanian Dinar
1 Philippine Peso = 2.09036 Japanese Yen
1 Philippine Peso = 1.88462 Kenyan Shilling
1 Philippine Peso = 1.27979 Kyrgyzstan Som
1 Philippine Peso = 75.96623 Cambodia Riel
1 Philippine Peso = 7.86454 Comoros Franc
1 Philippine Peso = 16.88555 North Korean Won
1 Philippine Peso = 21.13321 Korean Won
1 Philippine Peso = 0.00568 Kuwaiti Dinar
1 Philippine Peso = 0.01538 Cayman Islands Dollar
1 Philippine Peso = 6.50019 Kazakhstan Tenge
1 Philippine Peso = 157.69231 Lao Kip
1 Philippine Peso = 28.24578 Lebanese Pound
1 Philippine Peso = 2.99906 Sri Lanka Rupee
1 Philippine Peso = 2.82176 Liberian Dollar
1 Philippine Peso = 0.25122 Lesotho Loti
1 Philippine Peso = 0.0572 Lithuanian Lita
1 Philippine Peso = 0.01164 Latvian Lat
1 Philippine Peso = 0.02582 Libyan Dinar
1 Philippine Peso = 0.17712 Moroccan Dirham
1 Philippine Peso = 0.31191 Moldovan Leu
1 Philippine Peso = 0.98124 Macedonian Denar
1 Philippine Peso = 27.07317 Myanmar Kyat
1 Philippine Peso = 45.94747 Mongolian Tugrik
1 Philippine Peso = 0.15166 Macau Pataca
1 Philippine Peso = 6.66041 Mauritania Ougulya
1 Philippine Peso = 0.64259 Mauritius Rupee
1 Philippine Peso = 0.29212 Maldives Rufiyaa
1 Philippine Peso = 13.38537 Malawi Kwacha
1 Philippine Peso = 0.35681 Mexican Peso
1 Philippine Peso = 0.07617 Malaysian Ringgit
1 Philippine Peso = 0.25131 Namibian Dollar
1 Philippine Peso = 6.73546 Nigerian Naira
1 Philippine Peso = 0.58799 Nicaragua Cordoba
1 Philippine Peso = 0.1534 Norwegian Krone
1 Philippine Peso = 2.06473 Nepalese Rupee
1 Philippine Peso = 0.02754 New Zealand Dollar
1 Philippine Peso = 0.00721 Omani Rial
1 Philippine Peso = 0.01876 Panama Balboa
1 Philippine Peso = 0.06142 Peruvian Nuevo Sol
1 Philippine Peso = 0.06111 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.40338 Pakistani Rupee
1 Philippine Peso = 0.06911 Polish Zloty
1 Philippine Peso = 107.46904 Paraguayan Guarani
1 Philippine Peso = 0.06831 Qatar Rial
1 Philippine Peso = 0.07438 Romanian New Leu
1 Philippine Peso = 1.1907 Russian Rouble
1 Philippine Peso = 16.006 Rwanda Franc
1 Philippine Peso = 0.07036 Saudi Arabian Riyal
1 Philippine Peso = 0.14815 Solomon Islands Dollar
1 Philippine Peso = 0.25182 Seychelles Rupee
1 Philippine Peso = 0.33678 Sudanese Pound
1 Philippine Peso = 0.16626 Swedish Krona
1 Philippine Peso = 0.02554 Singapore Dollar
1 Philippine Peso = 0.01428 St Helena Pound
1 Philippine Peso = 0.41662 Slovak Koruna
1 Philippine Peso = 157.41088 Sierra Leone Leone
1 Philippine Peso = 10.69418 Somali Shilling
1 Philippine Peso = 392.12008 Sao Tome Dobra
1 Philippine Peso = 0.16417 El Salvador Colon
1 Philippine Peso = 9.66191 Syrian Pound
1 Philippine Peso = 0.25104 Swaziland Lilageni
1 Philippine Peso = 0.62495 Thai Baht
1 Philippine Peso = 0.04951 Tunisian Dinar
1 Philippine Peso = 0.0442 Tongan paʻanga
1 Philippine Peso = 0.0899 Turkish Lira
1 Philippine Peso = 0.12621 Trinidad Tobago Dollar
1 Philippine Peso = 0.57388 Taiwan Dollar
1 Philippine Peso = 42.58912 Tanzanian Shilling
1 Philippine Peso = 0.49568 Ukraine Hryvnia
1 Philippine Peso = 70.09381 Ugandan Shilling
1 Philippine Peso = 0.01876 United States Dollar
1 Philippine Peso = 0.58555 Uruguayan New Peso
1 Philippine Peso = 145.53471 Uzbekistan Sum
1 Philippine Peso = 2245.77861 Venezuelan Bolivar
1 Philippine Peso = 432.49531 Vietnam Dong
1 Philippine Peso = 2.06942 Vanuatu Vatu
1 Philippine Peso = 0.04922 Samoa Tala
1 Philippine Peso = 10.49099 CFA Franc (BEAC)
1 Philippine Peso = 0.05066 East Caribbean Dollar
1 Philippine Peso = 10.49099 CFA Franc (BCEAO)
1 Philippine Peso = 1.90938 Pacific Franc
1 Philippine Peso = 4.68762 Yemen Riyal
1 Philippine Peso = 0.25122 South African Rand
1 Philippine Peso = 97.36398 Zambian Kwacha
1 Philippine Peso = 6.78987 Zimbabwe dollar

Local investors account for big chunk of robust market activity

The Philippine bourse has already shown resilience vis-a-vis other regional markets, and a big reason for this is the active participation from local investors.

Speaking during a Business Forum held recently in Davao City, BDO Capital and Investment Corp. President Eduardo Francisco said the local market is teeming with activity.

“We actually have a good problem. There’s too much liquidity. Demand is so strong,” he told the audience composed mostly of Davao-based businessmen. 

Preliminary data from the Bangko Sentral ng PIlipinas show that domestic liquidity (M3) grew by 13.5 percent year-on-year to about P10.7 trillion in February 2018, faster than the 12.8-percent expansion in the previous month. 

“What’s good about this is a big chunk of the market activity, about 50 percent, comes from local investors. The local growth is so strong.”

A number of local corporations, he said, are ripe for listing if only they are inclined to do so.

“There are so many good corporations out there. They are just flying below the radar. I hope one day they consider listing in the stock market,” the BDO Capital top executive said. 

Francisco also stressed that growth can be felt beyond the confines of the stock market.

“We are seeing growth from all over the country. From the banks’ perspective, we’re seeing more branches. The private sector is growing three times more than the whole country,” he added.

As a matter of perspective, the country’s gross domestic product grew 6.7 percent in 2017. On the other hand, based on 2015 census data, the Philippine population has grown by 1.72 percent from 2010 to 2015.

Francisco also pointed out that the private sector as a whole remains supportive of the Duterte Administration, particularly its “Build, Build, Build” initiative.

“If private sector is not supporting the government, people would not be borrowing. But they are,” he said.

BSP reported that domestic claims grew by 13.8 percent in February, higher than the 13.6-percent (revised) increase in January due to sustained growth in bank lending. 

Growth in bank loans continued to be driven by lending to key production sectors such as real estate activities; electricity, gas, steam and airconditioning supply; wholesale and retail trade, repair of motor vehicles and motorcycles; manufacturing; financial and insurance activities; and information and communication. 

Loans for production activities—which comprised 88.4 percent of banks’ aggregate loan portfolio, net of RRP — grew by 18.6 percent in February from 18.0 percent in the previous month. 

Meanwhile, growth in loans for household consumption slowed down to 19.9 percent in February from 20.2 percent (revised) in January. The slower increase in motor vehicle loans and contraction in other types of household loans offset the faster expansion in credit card loans and salary-based general purpose loans in February.

Infrastructure is among the top priorities of the Duterte Administration, with public spending on infrastructure projects targeted to reach P8-9 trillion from 2017 to 2022.

The Build, Build, Build Initiative includes numerous big-ticket projects that are envisioned to increase the productive capacity of the economy, create jobs, increase incomes, and strengthen the investment climate leading to sustained inclusive growth.

BDO is a full-service universal bank which provides a wide range of corporate and retail banking services.  It has the country’s largest distribution network, with close to 1,200 consolidated operating branches and over 4,000 ATMs nationwide.  It also has 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 December 31, 2017. 
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