January 22, 2018, 11:54 am
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1 Philippine Peso = 0.07248 UAE Dirham
1 Philippine Peso = 2.15117 Albanian Lek
1 Philippine Peso = 0.03513 Neth Antilles Guilder
1 Philippine Peso = 0.37432 Argentine Peso
1 Philippine Peso = 0.02466 Australian Dollar
1 Philippine Peso = 0.03513 Aruba Florin
1 Philippine Peso = 0.03947 Barbados Dollar
1 Philippine Peso = 1.63391 Bangladesh Taka
1 Philippine Peso = 0.0315 Bulgarian Lev
1 Philippine Peso = 0.00743 Bahraini Dinar
1 Philippine Peso = 34.55654 Burundi Franc
1 Philippine Peso = 0.01974 Bermuda Dollar
1 Philippine Peso = 0.02619 Brunei Dollar
1 Philippine Peso = 0.13539 Bolivian Boliviano
1 Philippine Peso = 0.06307 Brazilian Real
1 Philippine Peso = 0.01974 Bahamian Dollar
1 Philippine Peso = 1.25863 Bhutan Ngultrum
1 Philippine Peso = 0.19114 Botswana Pula
1 Philippine Peso = 395.1056 Belarus Ruble
1 Philippine Peso = 0.03943 Belize Dollar
1 Philippine Peso = 0.02465 Canadian Dollar
1 Philippine Peso = 0.01899 Swiss Franc
1 Philippine Peso = 11.98717 Chilean Peso
1 Philippine Peso = 0.12629 Chinese Yuan
1 Philippine Peso = 56.09039 Colombian Peso
1 Philippine Peso = 11.14821 Costa Rica Colon
1 Philippine Peso = 0.01974 Cuban Peso
1 Philippine Peso = 1.78074 Cape Verde Escudo
1 Philippine Peso = 0.40983 Czech Koruna
1 Philippine Peso = 3.49517 Djibouti Franc
1 Philippine Peso = 0.12017 Danish Krone
1 Philippine Peso = 0.94356 Dominican Peso
1 Philippine Peso = 2.24754 Algerian Dinar
1 Philippine Peso = 0.25256 Estonian Kroon
1 Philippine Peso = 0.34873 Egyptian Pound
1 Philippine Peso = 0.537 Ethiopian Birr
1 Philippine Peso = 0.01614 Euro
1 Philippine Peso = 0.03952 Fiji Dollar
1 Philippine Peso = 0.01423 Falkland Islands Pound
1 Philippine Peso = 0.01424 British Pound
1 Philippine Peso = 0.08955 Ghanaian Cedi
1 Philippine Peso = 0.95481 Gambian Dalasi
1 Philippine Peso = 177.50149 Guinea Franc
1 Philippine Peso = 0.14478 Guatemala Quetzal
1 Philippine Peso = 4.06335 Guyana Dollar
1 Philippine Peso = 0.15424 Hong Kong Dollar
1 Philippine Peso = 0.4645 Honduras Lempira
1 Philippine Peso = 0.11993 Croatian Kuna
1 Philippine Peso = 1.2536 Haiti Gourde
1 Philippine Peso = 4.98796 Hungarian Forint
1 Philippine Peso = 262.6801 Indonesian Rupiah
1 Philippine Peso = 0.06734 Israeli Shekel
1 Philippine Peso = 1.2595 Indian Rupee
1 Philippine Peso = 23.36688 Iraqi Dinar
1 Philippine Peso = 722.49855 Iran Rial
1 Philippine Peso = 2.02684 Iceland Krona
1 Philippine Peso = 2.44306 Jamaican Dollar
1 Philippine Peso = 0.01395 Jordanian Dinar
1 Philippine Peso = 2.18305 Japanese Yen
1 Philippine Peso = 2.02388 Kenyan Shilling
1 Philippine Peso = 1.36803 Kyrgyzstan Som
1 Philippine Peso = 79.05665 Cambodia Riel
1 Philippine Peso = 8.11131 Comoros Franc
1 Philippine Peso = 17.76199 North Korean Won
1 Philippine Peso = 21.05013 Korean Won
1 Philippine Peso = 0.00592 Kuwaiti Dinar
1 Philippine Peso = 0.01618 Cayman Islands Dollar
1 Philippine Peso = 6.40616 Kazakhstan Tenge
1 Philippine Peso = 163.40439 Lao Kip
1 Philippine Peso = 29.70989 Lebanese Pound
1 Philippine Peso = 3.03631 Sri Lanka Rupee
1 Philippine Peso = 2.51372 Liberian Dollar
1 Philippine Peso = 0.24018 Lesotho Loti
1 Philippine Peso = 0.06017 Lithuanian Lita
1 Philippine Peso = 0.01225 Latvian Lat
1 Philippine Peso = 0.02645 Libyan Dinar
1 Philippine Peso = 0.1822 Moroccan Dirham
1 Philippine Peso = 0.33221 Moldovan Leu
1 Philippine Peso = 0.99072 Macedonian Denar
1 Philippine Peso = 26.54431 Myanmar Kyat
1 Philippine Peso = 47.6416 Mongolian Tugrik
1 Philippine Peso = 0.15887 Macau Pataca
1 Philippine Peso = 6.94691 Mauritania Ougulya
1 Philippine Peso = 0.64535 Mauritius Rupee
1 Philippine Peso = 0.3059 Maldives Rufiyaa
1 Philippine Peso = 14.08092 Malawi Kwacha
1 Philippine Peso = 0.36718 Mexican Peso
1 Philippine Peso = 0.07768 Malaysian Ringgit
1 Philippine Peso = 0.24178 Namibian Dollar
1 Philippine Peso = 7.06532 Nigerian Naira
1 Philippine Peso = 0.6045 Nicaragua Cordoba
1 Philippine Peso = 0.15516 Norwegian Krone
1 Philippine Peso = 2.01397 Nepalese Rupee
1 Philippine Peso = 0.02711 New Zealand Dollar
1 Philippine Peso = 0.00759 Omani Rial
1 Philippine Peso = 0.01974 Panama Balboa
1 Philippine Peso = 0.06337 Peruvian Nuevo Sol
1 Philippine Peso = 0.06241 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.17782 Pakistani Rupee
1 Philippine Peso = 0.06737 Polish Zloty
1 Philippine Peso = 110.75588 Paraguayan Guarani
1 Philippine Peso = 0.07183 Qatar Rial
1 Philippine Peso = 0.07523 Romanian New Leu
1 Philippine Peso = 1.11021 Russian Rouble
1 Philippine Peso = 16.49398 Rwanda Franc
1 Philippine Peso = 0.07401 Saudi Arabian Riyal
1 Philippine Peso = 0.15294 Solomon Islands Dollar
1 Philippine Peso = 0.26317 Seychelles Rupee
1 Philippine Peso = 0.13811 Sudanese Pound
1 Philippine Peso = 0.15903 Swedish Krona
1 Philippine Peso = 0.02605 Singapore Dollar
1 Philippine Peso = 0.01423 St Helena Pound
1 Philippine Peso = 0.43825 Slovak Koruna
1 Philippine Peso = 150.5822 Sierra Leone Leone
1 Philippine Peso = 11.09138 Somali Shilling
1 Philippine Peso = 395.67793 Sao Tome Dobra
1 Philippine Peso = 0.17269 El Salvador Colon
1 Philippine Peso = 10.16341 Syrian Pound
1 Philippine Peso = 0.24082 Swaziland Lilageni
1 Philippine Peso = 0.62838 Thai Baht
1 Philippine Peso = 0.04813 Tunisian Dinar
1 Philippine Peso = 0.04392 Tongan paʻanga
1 Philippine Peso = 0.07512 Turkish Lira
1 Philippine Peso = 0.1331 Trinidad Tobago Dollar
1 Philippine Peso = 0.57902 Taiwan Dollar
1 Philippine Peso = 44.22736 Tanzanian Shilling
1 Philippine Peso = 0.56937 Ukraine Hryvnia
1 Philippine Peso = 71.46241 Ugandan Shilling
1 Philippine Peso = 0.01974 United States Dollar
1 Philippine Peso = 0.56325 Uruguayan New Peso
1 Philippine Peso = 160.3513 Uzbekistan Sum
1 Philippine Peso = 0.19686 Venezuelan Bolivar
1 Philippine Peso = 447.97712 Vietnam Dong
1 Philippine Peso = 2.03691 Vanuatu Vatu
1 Philippine Peso = 0.0496 Samoa Tala
1 Philippine Peso = 10.5818 CFA Franc (BEAC)
1 Philippine Peso = 0.05329 East Caribbean Dollar
1 Philippine Peso = 10.49813 CFA Franc (BCEAO)
1 Philippine Peso = 1.92441 Pacific Franc
1 Philippine Peso = 4.9329 Yemen Riyal
1 Philippine Peso = 0.24034 South African Rand
1 Philippine Peso = 102.41761 Zambian Kwacha
1 Philippine Peso = 7.14229 Zimbabwe dollar

Posts $662M deficit in Q3

The current account reversed to a surplus of $554 million in the third quarter of 2017 from a deficit of $30 million in the same period last year. 

The current account surplus however, was not adequate to offset the increased net outflows in the financial account, resulting in a deficit in the overall balance of payments position (BOP) in the third quarter. 

The country’s BOP position reversed to a deficit of $662 million in the third quarter, after posting a surplus of $289 million in the second quarter of the year. This quarter’s deficit was also a turnaround from the $1 billion surplus recorded in the third quarter of last year. 

Net outflows in the financial account increased to $855 million following the reversal of the portfolio investment account to net outflows which more than offset the significant improvement in net inflows of direct investments. 

Meanwhile, the current account surplus was spurred by the continued growth in exports of goods, BPO-related transactions and travel services, and personal remittances. 

Global economic conditions continued to pick up pace supported by the sustained expansion in manufacturing activity in the US, China, Japan, as well as in the Euro area, and the Asean region. 

As growth prospects remained broadly optimistic, improved external demand for the country’s exports of goods and services supported the strong performance of the current account during the quarter. 

The current account registered a surplus of $554 million in the third quarter, a reversal from the $30 million deficit recorded in last year. 

This positive outcome resulted mainly from the higher net receipts in the trade-in-services, and primary and secondary income accounts which more than compensated for the widening trade-in-goods deficit.

The trade-in-goods deficit increased to $9.5 billion from $9 billion as imports of goods expanded by $2 billion while exports of goods rose by $1.5 billion. 

Exports of goods expanded by 12.9 percent to $12.8 billion in the third quarter from $11.3 billion. 

Except for petroleum products, all major commodity groups posted increments owing to increased shipments to the country’s major trading partners, such as US, China, Hong Kong SAR, and South Korea, among others. 

Exports of manufactured goods which comprised about 78 percent of total goods exports grew by 11.8 percent, due mainly to increased exports of non-consigned electronics and machinery and transport equipment, which grew by 29.2 percent and 41.8 percent, respectively. 

Imports of goods amounted to $22.2 billion, higher by 9.6 percent than the $20.3 billion recorded last year on account of the rise in imports of raw materials and intermediate goods by 11.1 percent and mineral fuels and lubricants by 31.1 percent.

Net receipts in trade-in-services amounted to $2.8 billion, 33.9 percent higher than the $2.1 billion net receipts due mainly to higher net receipts in other business services by 24.3 percent and to lower net payments in travel services by 5.2 percent. 

The growth in other business services was boosted by technical, trade-related, and other business services, mostly business process outsourcing (BPO) related transactions. 

Export revenues in BPO services totaled $6 billion, or an increase of 11.1 percent from the $5.4 billion receipts. 

Meanwhile, the reduction in net payments of travel services resulted from the marked increase in travel exports by 62.9 percent which outpaced that of travel imports by 24.3 percent.

The primary income account posted net receipts of $714 million, higher than the $532 million net receipts last year. 

The 34.1 percent increment was due largely to the 6.9 percent growth in compensation inflows from resident overseas Filipino (OF) workers amounting to nearly $2 billion during the quarter. 

In addition, net payments of investment income were 4.2 percent lower owing to the reduction in residents’ interest payments on foreign portfolio investments, particularly on bonds held by non-residents. Interest receipts on reserve assets which rose by 16.6 percent, also contributed to the upturn in primary income net receipts.

Net receipts in the secondary income account grew by 3.1 percent to reach $6.6 billion compared to the $6.4 billion net receipts last year. 

The improvement stemmed from the 38.3 percent increment in net receipts of other current transfers along with the 2.4 percent growth in personal transfers to $6.2 billion.

The BOP position for the first nine months of 2017 yielded a deficit of $1.4 billion, a turnaround from the $1.6 billion surplus recorded in the same period in 2016. 

This development stemmed mainly from the reversal of the financial account to net outflows from net inflows a year ago. 

The net outflows in the financial account in the first nine months of 2017 was due to higher net outflows in the portfolio and other investment accounts which more than tempered the increased net inflows of direct investments. 

Meanwhile, the current account reversed to a surplus of $28 million as a result of higher net receipts recorded in the services, secondary income, and primary income accounts.
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