August 30, 2014, 4:12 pm
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1 Philippine Peso = 0.08394 UAE Dirham
1 Philippine Peso = 2.41728 Albanian Lek
1 Philippine Peso = 0.0409 Neth Antilles Guilder
1 Philippine Peso = 0.19202 Argentine Peso
1 Philippine Peso = 0.02443 Australian Dollar
1 Philippine Peso = 0.04068 Aruba Florin
1 Philippine Peso = 0.0457 Barbados Dollar
1 Philippine Peso = 1.76463 Bangladesh Taka
1 Philippine Peso = 0.03403 Bulgarian Lev
1 Philippine Peso = 0.00862 Bahraini Dinar
1 Philippine Peso = 35.0777 Burundi Franc
1 Philippine Peso = 0.02285 Bermuda Dollar
1 Philippine Peso = 0.02854 Brunei Dollar
1 Philippine Peso = 0.15791 Bolivian Boliviano
1 Philippine Peso = 0.05149 Brazilian Real
1 Philippine Peso = 0.02285 Bahamian Dollar
1 Philippine Peso = 1.38665 Bhutan Ngultrum
1 Philippine Peso = 0.20331 Botswana Pula
1 Philippine Peso = 238.23126 Belarus Ruble
1 Philippine Peso = 0.04559 Belize Dollar
1 Philippine Peso = 0.0248 Canadian Dollar
1 Philippine Peso = 0.02091 Swiss Franc
1 Philippine Peso = 13.57164 Chilean Peso
1 Philippine Peso = 0.14037 Chinese Yuan
1 Philippine Peso = 44.17733 Colombian Peso
1 Philippine Peso = 12.38003 Costa Rica Colon
1 Philippine Peso = 0.02285 Cuban Peso
1 Philippine Peso = 1.88757 Cape Verde Escudo
1 Philippine Peso = 0.48275 Czech Koruna
1 Philippine Peso = 4.14077 Djibouti Franc
1 Philippine Peso = 0.12921 Danish Krone
1 Philippine Peso = 0.99577 Dominican Peso
1 Philippine Peso = 1.83684 Algerian Dinar
1 Philippine Peso = 0.27131 Estonian Kroon
1 Philippine Peso = 0.16334 Egyptian Pound
1 Philippine Peso = 0.45407 Ethiopian Birr
1 Philippine Peso = 0.01734 Euro
1 Philippine Peso = 0.04219 Fiji Dollar
1 Philippine Peso = 0.01378 Falkland Islands Pound
1 Philippine Peso = 0.01378 British Pound
1 Philippine Peso = 0.08507 Ghanaian Cedi
1 Philippine Peso = 0.90608 Gambian Dalasi
1 Philippine Peso = 160.64899 Guinea Franc
1 Philippine Peso = 0.17759 Guatemala Quetzal
1 Philippine Peso = 4.70064 Guyana Dollar
1 Philippine Peso = 0.1771 Hong Kong Dollar
1 Philippine Peso = 0.4821 Honduras Lempira
1 Philippine Peso = 0.13227 Croatian Kuna
1 Philippine Peso = 1.03659 Haiti Gourde
1 Philippine Peso = 5.47715 Hungarian Forint
1 Philippine Peso = 267.43601 Indonesian Rupiah
1 Philippine Peso = 0.08157 Israeli Shekel
1 Philippine Peso = 1.38551 Indian Rupee
1 Philippine Peso = 26.5585 Iraqi Dinar
1 Philippine Peso = 608.45521 Iran Rial
1 Philippine Peso = 2.66111 Iceland Krona
1 Philippine Peso = 2.57198 Jamaican Dollar
1 Philippine Peso = 0.0162 Jordanian Dinar
1 Philippine Peso = 2.37147 Japanese Yen
1 Philippine Peso = 2.02125 Kenyan Shilling
1 Philippine Peso = 1.20452 Kyrgyzstan Som
1 Philippine Peso = 92.89305 Cambodia Riel
1 Philippine Peso = 8.53281 Comoros Franc
1 Philippine Peso = 20.56673 North Korean Won
1 Philippine Peso = 23.22521 Korean Won
1 Philippine Peso = 0.0065 Kuwaiti Dinar
1 Philippine Peso = 0.01874 Cayman Islands Dollar
1 Philippine Peso = 4.15928 Kazakhstan Tenge
1 Philippine Peso = 183.71801 Lao Kip
1 Philippine Peso = 34.56353 Lebanese Pound
1 Philippine Peso = 2.97543 Sri Lanka Rupee
1 Philippine Peso = 1.93099 Liberian Dollar
1 Philippine Peso = 0.24296 Lesotho Loti
1 Philippine Peso = 0.05987 Lithuanian Lita
1 Philippine Peso = 0.01218 Latvian Lat
1 Philippine Peso = 0.02801 Libyan Dinar
1 Philippine Peso = 0.19361 Moroccan Dirham
1 Philippine Peso = 0.31947 Moldovan Leu
1 Philippine Peso = 1.06627 Macedonian Denar
1 Philippine Peso = 22.23492 Myanmar Kyat
1 Philippine Peso = 41.4191 Mongolian Tugrik
1 Philippine Peso = 0.18242 Macau Pataca
1 Philippine Peso = 6.63848 Mauritania Ougulya
1 Philippine Peso = 0.71527 Mauritius Rupee
1 Philippine Peso = 0.35009 Maldives Rufiyaa
1 Philippine Peso = 9.06627 Malawi Kwacha
1 Philippine Peso = 0.29977 Mexican Peso
1 Philippine Peso = 0.07198 Malaysian Ringgit
1 Philippine Peso = 0.24335 Namibian Dollar
1 Philippine Peso = 3.70384 Nigerian Naira
1 Philippine Peso = 0.59769 Nicaragua Cordoba
1 Philippine Peso = 0.14131 Norwegian Krone
1 Philippine Peso = 2.24589 Nepalese Rupee
1 Philippine Peso = 0.02728 New Zealand Dollar
1 Philippine Peso = 0.0088 Omani Rial
1 Philippine Peso = 0.02285 Panama Balboa
1 Philippine Peso = 0.06511 Peruvian Nuevo Sol
1 Philippine Peso = 0.0563 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.33318 Pakistani Rupee
1 Philippine Peso = 0.07325 Polish Zloty
1 Philippine Peso = 97.63334 Paraguayan Guarani
1 Philippine Peso = 0.08322 Qatar Rial
1 Philippine Peso = 0.0764 Romanian New Leu
1 Philippine Peso = 0.83908 Russian Rouble
1 Philippine Peso = 15.77925 Rwanda Franc
1 Philippine Peso = 0.08571 Saudi Arabian Riyal
1 Philippine Peso = 0.16581 Solomon Islands Dollar
1 Philippine Peso = 0.29405 Seychelles Rupee
1 Philippine Peso = 0.13008 Sudanese Pound
1 Philippine Peso = 0.15929 Swedish Krona
1 Philippine Peso = 0.02854 Singapore Dollar
1 Philippine Peso = 0.01378 St Helena Pound
1 Philippine Peso = 0.50745 Slovak Koruna
1 Philippine Peso = 100.54845 Sierra Leone Leone
1 Philippine Peso = 18.96709 Somali Shilling
1 Philippine Peso = 425.27422 Sao Tome Dobra
1 Philippine Peso = 0.19989 El Salvador Colon
1 Philippine Peso = 3.50891 Syrian Pound
1 Philippine Peso = 0.24367 Swaziland Lilageni
1 Philippine Peso = 0.73012 Thai Baht
1 Philippine Peso = 0.0398 Tunisian Dinar
1 Philippine Peso = 0.04276 Tonga Pa'ang
1 Philippine Peso = 0.04942 Turkish Lira
1 Philippine Peso = 0.14483 Trinidad Tobago Dollar
1 Philippine Peso = 0.68398 Taiwan Dollar
1 Philippine Peso = 38.05987 Tanzanian Shilling
1 Philippine Peso = 0.30719 Ukraine Hryvnia
1 Philippine Peso = 59.94059 Ugandan Shilling
1 Philippine Peso = 0.02285 United States Dollar
1 Philippine Peso = 0.54776 Uruguayan New Peso
1 Philippine Peso = 53.65676 Uzbekistan Sum
1 Philippine Peso = 0.14369 Venezuelan Bolivar
1 Philippine Peso = 483.8894 Vietnam Dong
1 Philippine Peso = 2.15608 Vanuatu Vatu
1 Philippine Peso = 0.0533 Samoa Tala
1 Philippine Peso = 11.37708 CFA Franc (BEAC)
1 Philippine Peso = 0.0617 East Caribbean Dollar
1 Philippine Peso = 11.38254 CFA Franc (BCEAO)
1 Philippine Peso = 2.06696 Pacific Franc
1 Philippine Peso = 4.91099 Yemen Riyal
1 Philippine Peso = 0.24327 South African Rand
1 Philippine Peso = 118.59004 Zambian Kwacha
1 Philippine Peso = 8.27011 Zimbabwe dollar

Asia’s inflation challenge — not enough of it

SINGAPORE - Asia’s main economic challenge in 2014 could be inflation — or rather, the lack of it. Consumer prices are rising at a rate of less than 1 percent a year in South Korea and Taiwan, and slower than 2 percent in Thailand and Singapore. The 3.1 percent increase in Chinese consumer prices in September was half the pace of two years ago.
 
India and Indonesia are the big exceptions to the weak price trend. These domestically oriented economies have uncomfortably high inflation. Both also have large trade deficits and limited exposure to anaemic Western demand, the main depressing force on Asian prices.
 
Historically, global commerce has mostly produced just about the right amount of inflationary grease for Asia. But OECD estimates world trade volumes to have grown at an annual 3 percent since the end of 2011, well below the 6.5 percent rate typical of recent decades. Asian manufacturers, critically dependent on foreign buyers, have responded by dumping surplus production in domestic markets.
 
For example, prices of goods sold in Malaysia have fallen 2.7 percent in two years, dragged down by a 3.6 percent reduction in prices by local suppliers. In countries like China, exchange-rate appreciation has played a part by lowering import prices.
 
Explosive credit growth sometimes generates inflation, but it hasn’t done that recently in Asia. Private sector credit has doubled in Singapore in the past six years, and expanded 75 percent in Thailand. And China’s local governments have borrowed massively. But the main result of all this credit has been frothy property markets. Hong Kong, with 4.6 percent inflation, is an exception.
 
The disinflationary trend is bad for GDP growth. Weak pricing power increases the real cost of borrowing for companies. That discourages investment.
 
Will it last? Inflation rates might rise next year, if Asian currencies fall in response to tighter monetary policy in developed countries. That would only be a stopgap, though. Without strong demand from the West, disinflation will remain a threat.
 
Could it get worse? Outright deflation is unlikely in countries with young populations such as Vietnam and the Philippines. But South Korea had better watch out.
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