December 18, 2017, 1:14 pm
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1 Philippine Peso = 0.0149 British Pound
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1 Philippine Peso = 1 Philippine Peso
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1 Philippine Peso = 111.57205 Paraguayan Guarani
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1 Philippine Peso = 0.13219 Sudanese Pound
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1 Philippine Peso = 0.02675 Singapore Dollar
1 Philippine Peso = 0.01489 St Helena Pound
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1 Philippine Peso = 151.44898 Sierra Leone Leone
1 Philippine Peso = 11.09567 Somali Shilling
1 Philippine Peso = 413.80507 Sao Tome Dobra
1 Philippine Peso = 0.17368 El Salvador Colon
1 Philippine Peso = 10.22191 Syrian Pound
1 Philippine Peso = 0.26054 Swaziland Lilageni
1 Philippine Peso = 0.6449 Thai Baht
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1 Philippine Peso = 0.07666 Turkish Lira
1 Philippine Peso = 0.13159 Trinidad Tobago Dollar
1 Philippine Peso = 0.5944 Taiwan Dollar
1 Philippine Peso = 44.30329 Tanzanian Shilling
1 Philippine Peso = 0.54875 Ukraine Hryvnia
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1 Philippine Peso = 0.01985 United States Dollar
1 Philippine Peso = 0.57046 Uruguayan New Peso
1 Philippine Peso = 160.57959 Uzbekistan Sum
1 Philippine Peso = 0.198 Venezuelan Bolivar
1 Philippine Peso = 450.55577 Vietnam Dong
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1 Philippine Peso = 0.05144 Samoa Tala
1 Philippine Peso = 11.07165 CFA Franc (BEAC)
1 Philippine Peso = 0.05359 East Caribbean Dollar
1 Philippine Peso = 11.49782 CFA Franc (BCEAO)
1 Philippine Peso = 2.00337 Pacific Franc
1 Philippine Peso = 4.96129 Yemen Riyal
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1 Philippine Peso = 103.00714 Zambian Kwacha
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Modest rise in US consumer prices may delay Fed rate hike

WASHINGTON- US consumer prices rose slightly in July as higher food costs were partly offset by falling prices for a range of other goods, suggesting benign inflation that could persuade a cautious Federal Reserve to delay raising interest rates until December.

But with the labor market near full employment and economic growth accelerating, analysts expect the US central bank will announce a plan to start unwinding its massive bond portfolio at its policy meeting next month.

“We believe the Fed will focus on the balance sheet in September, foregoing another rate hike until December,” said James Bohnaker, an economist at IHS Markit in Lexington, Massachusetts. “The inflation outlook will not change drastically anytime soon.”

The Labor Department said on Friday its Consumer Price Index edged up 0.1 percent last month after being unchanged in June. That lifted the year-on-year increase in the CPI to 1.7 percent from 1.6 percent in June.

Economists had forecast the CPI rising 0.2 percent in July and climbing 1.8 percent year-on-year.

Stripping out the volatile food and energy components, consumer prices gained 0.1 percent for the fourth straight month. The so-called core CPI rose 1.7 percent in the 12 months through July and has now increased by that margin for three consecutive months.

Despite the modest gain in consumer prices, which came on the heels of a drop in producer prices in July, many economists continue to share the Fed’s conviction that transitory factors were holding back inflation.

Fed Chair Janet Yellen told lawmakers last month that “some special factors,” including prices for mobile phone plans and prescription drugs, were partly responsible for the low inflation readings. Mobile phone prices continued to decline in July, falling 0.3 percent.

Prices of US government debt initially rose on the inflation data, but pared gains after Russian Foreign Minster Sergei Lavrov said there was a Russian-Chinese plan to defuse tensions between the United States and North Korea.

The dollar was trading lower against a basket of currencies, while US stocks rose.

The Fed has a 2 percent inflation target and tracks a measure that has been stuck at 1.5 percent since May.

Inflation remains tame despite a tightening labor market, a conundrum for the central bank as it contemplates tightening monetary policy further.

The Fed is expected to outline a program to start offloading its $4.2 trillion portfolio of Treasury bonds and mortgage-backed securities at its Sept. 19-20 policy meeting. - Reuters
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