March 6, 2015, 7:59 am
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1 Philippine Peso = 0.08331 UAE Dirham
1 Philippine Peso = 2.85389 Albanian Lek
1 Philippine Peso = 0.0406 Neth Antilles Guilder
1 Philippine Peso = 0.19806 Argentine Peso
1 Philippine Peso = 0.02895 Australian Dollar
1 Philippine Peso = 0.0406 Aruba Florin
1 Philippine Peso = 0.04536 Barbados Dollar
1 Philippine Peso = 1.76446 Bangladesh Taka
1 Philippine Peso = 0.03963 Bulgarian Lev
1 Philippine Peso = 0.00855 Bahraini Dinar
1 Philippine Peso = 35.60858 Burundi Franc
1 Philippine Peso = 0.02268 Bermuda Dollar
1 Philippine Peso = 0.03091 Brunei Dollar
1 Philippine Peso = 0.15672 Bolivian Boliviano
1 Philippine Peso = 0.06588 Brazilian Real
1 Philippine Peso = 0.02268 Bahamian Dollar
1 Philippine Peso = 1.40399 Bhutan Ngultrum
1 Philippine Peso = 0.2205 Botswana Pula
1 Philippine Peso = 342.4774 Belarus Ruble
1 Philippine Peso = 0.04525 Belize Dollar
1 Philippine Peso = 0.02825 Canadian Dollar
1 Philippine Peso = 0.02175 Swiss Franc
1 Philippine Peso = 13.99746 Chilean Peso
1 Philippine Peso = 0.14223 Chinese Yuan
1 Philippine Peso = 58.22853 Colombian Peso
1 Philippine Peso = 12.10601 Costa Rica Colon
1 Philippine Peso = 0.02268 Cuban Peso
1 Philippine Peso = 2.22042 Cape Verde Escudo
1 Philippine Peso = 0.5564 Czech Koruna
1 Philippine Peso = 4.02059 Djibouti Franc
1 Philippine Peso = 0.15103 Danish Krone
1 Philippine Peso = 1.01552 Dominican Peso
1 Philippine Peso = 2.15579 Algerian Dinar
1 Philippine Peso = 0.31704 Estonian Kroon
1 Philippine Peso = 0.17299 Egyptian Pound
1 Philippine Peso = 0.46165 Ethiopian Birr
1 Philippine Peso = 0.02026 Euro
1 Philippine Peso = 0.04631 Fiji Dollar
1 Philippine Peso = 0.01467 Falkland Islands Pound
1 Philippine Peso = 0.01475 British Pound
1 Philippine Peso = 0.07938 Ghanaian Cedi
1 Philippine Peso = 0.97753 Gambian Dalasi
1 Philippine Peso = 164.43452 Guinea Franc
1 Philippine Peso = 0.17297 Guatemala Quetzal
1 Philippine Peso = 4.69965 Guyana Dollar
1 Philippine Peso = 0.17587 Hong Kong Dollar
1 Philippine Peso = 0.47629 Honduras Lempira
1 Philippine Peso = 0.15531 Croatian Kuna
1 Philippine Peso = 1.06926 Haiti Gourde
1 Philippine Peso = 6.21075 Hungarian Forint
1 Philippine Peso = 294.72335 Indonesian Rupiah
1 Philippine Peso = 0.09014 Israeli Shekel
1 Philippine Peso = 1.40226 Indian Rupee
1 Philippine Peso = 26.4388 Iraqi Dinar
1 Philippine Peso = 629.81821 Iran Rial
1 Philippine Peso = 3.02877 Iceland Krona
1 Philippine Peso = 2.6161 Jamaican Dollar
1 Philippine Peso = 0.01607 Jordanian Dinar
1 Philippine Peso = 2.71117 Japanese Yen
1 Philippine Peso = 2.0707 Kenyan Shilling
1 Philippine Peso = 1.39094 Kyrgyzstan Som
1 Philippine Peso = 91.90075 Cambodia Riel
1 Philippine Peso = 9.97643 Comoros Franc
1 Philippine Peso = 20.41256 North Korean Won
1 Philippine Peso = 24.87735 Korean Won
1 Philippine Peso = 0.00672 Kuwaiti Dinar
1 Philippine Peso = 0.0186 Cayman Islands Dollar
1 Philippine Peso = 4.19909 Kazakhstan Tenge
1 Philippine Peso = 183.91604 Lao Kip
1 Philippine Peso = 34.14568 Lebanese Pound
1 Philippine Peso = 3.0197 Sri Lanka Rupee
1 Philippine Peso = 1.92007 Liberian Dollar
1 Philippine Peso = 0.26678 Lesotho Loti
1 Philippine Peso = 0.06654 Lithuanian Lita
1 Philippine Peso = 0.01425 Latvian Lat
1 Philippine Peso = 0.03084 Libyan Dinar
1 Philippine Peso = 0.21926 Moroccan Dirham
1 Philippine Peso = 0.41347 Moldovan Leu
1 Philippine Peso = 1.24732 Macedonian Denar
1 Philippine Peso = 23.5062 Myanmar Kyat
1 Philippine Peso = 44.77155 Mongolian Tugrik
1 Philippine Peso = 0.18116 Macau Pataca
1 Philippine Peso = 6.59269 Mauritania Ougulya
1 Philippine Peso = 0.76774 Mauritius Rupee
1 Philippine Peso = 0.34928 Maldives Rufiyaa
1 Philippine Peso = 10.54638 Malawi Kwacha
1 Philippine Peso = 0.33929 Mexican Peso
1 Philippine Peso = 0.08234 Malaysian Ringgit
1 Philippine Peso = 0.26678 Namibian Dollar
1 Philippine Peso = 4.53045 Nigerian Naira
1 Philippine Peso = 0.60829 Nicaragua Cordoba
1 Philippine Peso = 0.17478 Norwegian Krone
1 Philippine Peso = 2.24638 Nepalese Rupee
1 Philippine Peso = 0.03 New Zealand Dollar
1 Philippine Peso = 0.00873 Omani Rial
1 Philippine Peso = 0.02268 Panama Balboa
1 Philippine Peso = 0.07012 Peruvian Nuevo Sol
1 Philippine Peso = 0.05994 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.31093 Pakistani Rupee
1 Philippine Peso = 0.08443 Polish Zloty
1 Philippine Peso = 106.07035 Paraguayan Guarani
1 Philippine Peso = 0.08258 Qatar Rial
1 Philippine Peso = 0.09028 Romanian New Leu
1 Philippine Peso = 1.40817 Russian Rouble
1 Philippine Peso = 15.66097 Rwanda Franc
1 Philippine Peso = 0.08506 Saudi Arabian Riyal
1 Philippine Peso = 0.17584 Solomon Islands Dollar
1 Philippine Peso = 0.31538 Seychelles Rupee
1 Philippine Peso = 0.12911 Sudanese Pound
1 Philippine Peso = 0.18752 Swedish Krona
1 Philippine Peso = 0.03089 Singapore Dollar
1 Philippine Peso = 0.01477 St Helena Pound
1 Philippine Peso = 0.50365 Slovak Koruna
1 Philippine Peso = 99.79474 Sierra Leone Leone
1 Philippine Peso = 15.96602 Somali Shilling
1 Philippine Peso = 496.13862 Sao Tome Dobra
1 Philippine Peso = 0.19834 El Salvador Colon
1 Philippine Peso = 4.28503 Syrian Pound
1 Philippine Peso = 0.26678 Swaziland Lilageni
1 Philippine Peso = 0.73413 Thai Baht
1 Philippine Peso = 0.0442 Tunisian Dinar
1 Philippine Peso = 0.04468 Tonga Pa'ang
1 Philippine Peso = 0.05751 Turkish Lira
1 Philippine Peso = 0.14339 Trinidad Tobago Dollar
1 Philippine Peso = 0.71069 Taiwan Dollar
1 Philippine Peso = 41.61327 Tanzanian Shilling
1 Philippine Peso = 0.55001 Ukraine Hryvnia
1 Philippine Peso = 66.00061 Ugandan Shilling
1 Philippine Peso = 0.02268 United States Dollar
1 Philippine Peso = 0.5567 Uruguayan New Peso
1 Philippine Peso = 55.94992 Uzbekistan Sum
1 Philippine Peso = 0.14402 Venezuelan Bolivar
1 Philippine Peso = 484.1746 Vietnam Dong
1 Philippine Peso = 2.44724 Vanuatu Vatu
1 Philippine Peso = 0.05639 Samoa Tala
1 Philippine Peso = 13.3019 CFA Franc (BEAC)
1 Philippine Peso = 0.06124 East Caribbean Dollar
1 Philippine Peso = 13.3019 CFA Franc (BCEAO)
1 Philippine Peso = 2.41988 Pacific Franc
1 Philippine Peso = 4.87769 Yemen Riyal
1 Philippine Peso = 0.26672 South African Rand
1 Philippine Peso = 117.70109 Zambian Kwacha
1 Philippine Peso = 8.20812 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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