April 27, 2015, 5:06 pm
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1 Philippine Peso = 0.0831 UAE Dirham
1 Philippine Peso = 2.9284 Albanian Lek
1 Philippine Peso = 0.0405 Neth Antilles Guilder
1 Philippine Peso = 0.20133 Argentine Peso
1 Philippine Peso = 0.02892 Australian Dollar
1 Philippine Peso = 0.0405 Aruba Florin
1 Philippine Peso = 0.04525 Barbados Dollar
1 Philippine Peso = 1.76082 Bangladesh Taka
1 Philippine Peso = 0.04072 Bulgarian Lev
1 Philippine Peso = 0.00853 Bahraini Dinar
1 Philippine Peso = 35.29292 Burundi Franc
1 Philippine Peso = 0.02262 Bermuda Dollar
1 Philippine Peso = 0.03014 Brunei Dollar
1 Philippine Peso = 0.1561 Bolivian Boliviano
1 Philippine Peso = 0.06681 Brazilian Real
1 Philippine Peso = 0.02262 Bahamian Dollar
1 Philippine Peso = 1.43858 Bhutan Ngultrum
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1 Philippine Peso = 323.06596 Belarus Ruble
1 Philippine Peso = 0.04513 Belize Dollar
1 Philippine Peso = 0.02756 Canadian Dollar
1 Philippine Peso = 0.02158 Swiss Franc
1 Philippine Peso = 13.86819 Chilean Peso
1 Philippine Peso = 0.14015 Chinese Yuan
1 Philippine Peso = 55.48454 Colombian Peso
1 Philippine Peso = 12.01045 Costa Rica Colon
1 Philippine Peso = 0.02262 Cuban Peso
1 Philippine Peso = 2.28781 Cape Verde Escudo
1 Philippine Peso = 0.57159 Czech Koruna
1 Philippine Peso = 4.01672 Djibouti Franc
1 Philippine Peso = 0.15525 Danish Krone
1 Philippine Peso = 1.01196 Dominican Peso
1 Philippine Peso = 2.21565 Algerian Dinar
1 Philippine Peso = 0.32549 Estonian Kroon
1 Philippine Peso = 0.17254 Egyptian Pound
1 Philippine Peso = 0.46367 Ethiopian Birr
1 Philippine Peso = 0.0208 Euro
1 Philippine Peso = 0.04611 Fiji Dollar
1 Philippine Peso = 0.01511 Falkland Islands Pound
1 Philippine Peso = 0.0149 British Pound
1 Philippine Peso = 0.0871 Ghanaian Cedi
1 Philippine Peso = 0.97169 Gambian Dalasi
1 Philippine Peso = 163.77272 Guinea Franc
1 Philippine Peso = 0.17528 Guatemala Quetzal
1 Philippine Peso = 4.68785 Guyana Dollar
1 Philippine Peso = 0.17533 Hong Kong Dollar
1 Philippine Peso = 0.49676 Honduras Lempira
1 Philippine Peso = 0.15867 Croatian Kuna
1 Philippine Peso = 1.06908 Haiti Gourde
1 Philippine Peso = 6.31065 Hungarian Forint
1 Philippine Peso = 292.90861 Indonesian Rupiah
1 Philippine Peso = 0.08869 Israeli Shekel
1 Philippine Peso = 1.44291 Indian Rupee
1 Philippine Peso = 26.82036 Iraqi Dinar
1 Philippine Peso = 641.10946 Iran Rial
1 Philippine Peso = 3.05838 Iceland Krona
1 Philippine Peso = 2.60251 Jamaican Dollar
1 Philippine Peso = 0.01602 Jordanian Dinar
1 Philippine Peso = 2.68928 Japanese Yen
1 Philippine Peso = 2.13114 Kenyan Shilling
1 Philippine Peso = 1.38252 Kyrgyzstan Som
1 Philippine Peso = 90.71977 Cambodia Riel
1 Philippine Peso = 10.23412 Comoros Franc
1 Philippine Peso = 20.3613 North Korean Won
1 Philippine Peso = 24.34985 Korean Won
1 Philippine Peso = 0.00682 Kuwaiti Dinar
1 Philippine Peso = 0.01855 Cayman Islands Dollar
1 Philippine Peso = 4.20698 Kazakhstan Tenge
1 Philippine Peso = 183.25057 Lao Kip
1 Philippine Peso = 34.05993 Lebanese Pound
1 Philippine Peso = 3.00623 Sri Lanka Rupee
1 Philippine Peso = 1.91532 Liberian Dollar
1 Philippine Peso = 0.27427 Lesotho Loti
1 Philippine Peso = 0.06638 Lithuanian Lita
1 Philippine Peso = 0.01462 Latvian Lat
1 Philippine Peso = 0.03111 Libyan Dinar
1 Philippine Peso = 0.22364 Moroccan Dirham
1 Philippine Peso = 0.41797 Moldovan Leu
1 Philippine Peso = 1.28107 Macedonian Denar
1 Philippine Peso = 24.38831 Myanmar Kyat
1 Philippine Peso = 44.38763 Mongolian Tugrik
1 Philippine Peso = 0.1806 Macau Pataca
1 Philippine Peso = 7.10383 Mauritania Ougulya
1 Philippine Peso = 0.81445 Mauritius Rupee
1 Philippine Peso = 0.34705 Maldives Rufiyaa
1 Philippine Peso = 10.18054 Malawi Kwacha
1 Philippine Peso = 0.34784 Mexican Peso
1 Philippine Peso = 0.08086 Malaysian Ringgit
1 Philippine Peso = 0.27427 Namibian Dollar
1 Philippine Peso = 4.50381 Nigerian Naira
1 Philippine Peso = 0.61099 Nicaragua Cordoba
1 Philippine Peso = 0.17584 Norwegian Krone
1 Philippine Peso = 2.30173 Nepalese Rupee
1 Philippine Peso = 0.02974 New Zealand Dollar
1 Philippine Peso = 0.00871 Omani Rial
1 Philippine Peso = 0.02262 Panama Balboa
1 Philippine Peso = 0.07093 Peruvian Nuevo Sol
1 Philippine Peso = 0.06092 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.29823 Pakistani Rupee
1 Philippine Peso = 0.08402 Polish Zloty
1 Philippine Peso = 113.57329 Paraguayan Guarani
1 Philippine Peso = 0.08236 Qatar Rial
1 Philippine Peso = 0.09184 Romanian New Leu
1 Philippine Peso = 1.14938 Russian Rouble
1 Philippine Peso = 15.58771 Rwanda Franc
1 Philippine Peso = 0.08485 Saudi Arabian Riyal
1 Philippine Peso = 0.17662 Solomon Islands Dollar
1 Philippine Peso = 0.30938 Seychelles Rupee
1 Philippine Peso = 0.13462 Sudanese Pound
1 Philippine Peso = 0.19518 Swedish Krona
1 Philippine Peso = 0.03016 Singapore Dollar
1 Philippine Peso = 0.0149 St Helena Pound
1 Philippine Peso = 0.50238 Slovak Koruna
1 Philippine Peso = 98.97854 Sierra Leone Leone
1 Philippine Peso = 15.83544 Somali Shilling
1 Philippine Peso = 509.48497 Sao Tome Dobra
1 Philippine Peso = 0.19784 El Salvador Colon
1 Philippine Peso = 4.27427 Syrian Pound
1 Philippine Peso = 0.27427 Swaziland Lilageni
1 Philippine Peso = 0.73705 Thai Baht
1 Philippine Peso = 0.04393 Tunisian Dinar
1 Philippine Peso = 0.04493 Tonga Pa'ang
1 Philippine Peso = 0.06141 Turkish Lira
1 Philippine Peso = 0.1436 Trinidad Tobago Dollar
1 Philippine Peso = 0.69504 Taiwan Dollar
1 Philippine Peso = 44.0709 Tanzanian Shilling
1 Philippine Peso = 0.51921 Ukraine Hryvnia
1 Philippine Peso = 67.93887 Ugandan Shilling
1 Philippine Peso = 0.02262 United States Dollar
1 Philippine Peso = 0.59625 Uruguayan New Peso
1 Philippine Peso = 56.72658 Uzbekistan Sum
1 Philippine Peso = 0.14366 Venezuelan Bolivar
1 Philippine Peso = 488.55808 Vietnam Dong
1 Philippine Peso = 2.42673 Vanuatu Vatu
1 Philippine Peso = 0.05598 Samoa Tala
1 Philippine Peso = 13.64549 CFA Franc (BEAC)
1 Philippine Peso = 0.06108 East Caribbean Dollar
1 Philippine Peso = 13.64549 CFA Franc (BCEAO)
1 Philippine Peso = 2.48239 Pacific Franc
1 Philippine Peso = 4.86465 Yemen Riyal
1 Philippine Peso = 0.27398 South African Rand
1 Philippine Peso = 117.40552 Zambian Kwacha
1 Philippine Peso = 8.1875 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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