October 26, 2014, 2:13 am
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1 Philippine Peso = 0.082 UAE Dirham
1 Philippine Peso = 2.45088 Albanian Lek
1 Philippine Peso = 0.03996 Neth Antilles Guilder
1 Philippine Peso = 0.18953 Argentine Peso
1 Philippine Peso = 0.02539 Australian Dollar
1 Philippine Peso = 0.03997 Aruba Florin
1 Philippine Peso = 0.04465 Barbados Dollar
1 Philippine Peso = 1.72751 Bangladesh Taka
1 Philippine Peso = 0.03461 Bulgarian Lev
1 Philippine Peso = 0.00842 Bahraini Dinar
1 Philippine Peso = 34.75106 Burundi Franc
1 Philippine Peso = 0.02233 Bermuda Dollar
1 Philippine Peso = 0.02848 Brunei Dollar
1 Philippine Peso = 0.15428 Bolivian Boliviano
1 Philippine Peso = 0.05505 Brazilian Real
1 Philippine Peso = 0.02233 Bahamian Dollar
1 Philippine Peso = 1.3666 Bhutan Ngultrum
1 Philippine Peso = 0.20408 Botswana Pula
1 Philippine Peso = 239.78567 Belarus Ruble
1 Philippine Peso = 0.04454 Belize Dollar
1 Philippine Peso = 0.02508 Canadian Dollar
1 Philippine Peso = 0.02125 Swiss Franc
1 Philippine Peso = 13.04756 Chilean Peso
1 Philippine Peso = 0.13658 Chinese Yuan
1 Philippine Peso = 46.00581 Colombian Peso
1 Philippine Peso = 12.08864 Costa Rica Colon
1 Philippine Peso = 0.02233 Cuban Peso
1 Philippine Peso = 1.92565 Cape Verde Escudo
1 Philippine Peso = 0.48759 Czech Koruna
1 Philippine Peso = 4.01875 Djibouti Franc
1 Philippine Peso = 0.13119 Danish Krone
1 Philippine Peso = 0.98046 Dominican Peso
1 Philippine Peso = 1.86481 Algerian Dinar
1 Philippine Peso = 0.27573 Estonian Kroon
1 Philippine Peso = 0.15965 Egyptian Pound
1 Philippine Peso = 0.44756 Ethiopian Birr
1 Philippine Peso = 0.01762 Euro
1 Philippine Peso = 0.04354 Fiji Dollar
1 Philippine Peso = 0.01388 Falkland Islands Pound
1 Philippine Peso = 0.01388 British Pound
1 Philippine Peso = 0.07161 Ghanaian Cedi
1 Philippine Peso = 0.96405 Gambian Dalasi
1 Philippine Peso = 156.84305 Guinea Franc
1 Philippine Peso = 0.17056 Guatemala Quetzal
1 Philippine Peso = 4.59254 Guyana Dollar
1 Philippine Peso = 0.17319 Hong Kong Dollar
1 Philippine Peso = 0.47581 Honduras Lempira
1 Philippine Peso = 0.13524 Croatian Kuna
1 Philippine Peso = 1.02046 Haiti Gourde
1 Philippine Peso = 5.43514 Hungarian Forint
1 Philippine Peso = 269.45747 Indonesian Rupiah
1 Philippine Peso = 0.08442 Israeli Shekel
1 Philippine Peso = 1.36816 Indian Rupee
1 Philippine Peso = 26.00357 Iraqi Dinar
1 Philippine Peso = 596.785 Iran Rial
1 Philippine Peso = 2.70351 Iceland Krona
1 Philippine Peso = 2.51061 Jamaican Dollar
1 Philippine Peso = 0.01585 Jordanian Dinar
1 Philippine Peso = 2.41449 Japanese Yen
1 Philippine Peso = 1.99766 Kenyan Shilling
1 Philippine Peso = 1.25204 Kyrgyzstan Som
1 Philippine Peso = 90.98013 Cambodia Riel
1 Philippine Peso = 8.66852 Comoros Franc
1 Philippine Peso = 20.09377 North Korean Won
1 Philippine Peso = 23.59857 Korean Won
1 Philippine Peso = 0.00646 Kuwaiti Dinar
1 Philippine Peso = 0.01831 Cayman Islands Dollar
1 Philippine Peso = 4.03963 Kazakhstan Tenge
1 Philippine Peso = 179.5557 Lao Kip
1 Philippine Peso = 33.77986 Lebanese Pound
1 Philippine Peso = 2.92141 Sri Lanka Rupee
1 Philippine Peso = 1.88658 Liberian Dollar
1 Philippine Peso = 0.24403 Lesotho Loti
1 Philippine Peso = 0.06086 Lithuanian Lita
1 Philippine Peso = 0.01137 Latvian Lat
1 Philippine Peso = 0.02695 Libyan Dinar
1 Philippine Peso = 0.19506 Moroccan Dirham
1 Philippine Peso = 0.32719 Moldovan Leu
1 Philippine Peso = 1.08707 Macedonian Denar
1 Philippine Peso = 22.30409 Myanmar Kyat
1 Philippine Peso = 41.24805 Mongolian Tugrik
1 Philippine Peso = 0.17839 Macau Pataca
1 Philippine Peso = 6.50145 Mauritania Ougulya
1 Philippine Peso = 0.70351 Mauritius Rupee
1 Philippine Peso = 0.3436 Maldives Rufiyaa
1 Philippine Peso = 10.29975 Malawi Kwacha
1 Philippine Peso = 0.30271 Mexican Peso
1 Philippine Peso = 0.07321 Malaysian Ringgit
1 Philippine Peso = 0.24454 Namibian Dollar
1 Philippine Peso = 3.67649 Nigerian Naira
1 Philippine Peso = 0.59422 Nicaragua Cordoba
1 Philippine Peso = 0.14731 Norwegian Krone
1 Philippine Peso = 2.18576 Nepalese Rupee
1 Philippine Peso = 0.02842 New Zealand Dollar
1 Philippine Peso = 0.0086 Omani Rial
1 Philippine Peso = 0.02233 Panama Balboa
1 Philippine Peso = 0.06497 Peruvian Nuevo Sol
1 Philippine Peso = 0.05633 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.29962 Pakistani Rupee
1 Philippine Peso = 0.07425 Polish Zloty
1 Philippine Peso = 103.22885 Paraguayan Guarani
1 Philippine Peso = 0.0813 Qatar Rial
1 Philippine Peso = 0.07789 Romanian New Leu
1 Philippine Peso = 0.93539 Russian Rouble
1 Philippine Peso = 15.36057 Rwanda Franc
1 Philippine Peso = 0.08376 Saudi Arabian Riyal
1 Philippine Peso = 0.16551 Solomon Islands Dollar
1 Philippine Peso = 0.30959 Seychelles Rupee
1 Philippine Peso = 0.12712 Sudanese Pound
1 Philippine Peso = 0.1619 Swedish Krona
1 Philippine Peso = 0.02848 Singapore Dollar
1 Philippine Peso = 0.01388 St Helena Pound
1 Philippine Peso = 0.49578 Slovak Koruna
1 Philippine Peso = 97.7562 Sierra Leone Leone
1 Philippine Peso = 17.45479 Somali Shilling
1 Philippine Peso = 432.01608 Sao Tome Dobra
1 Philippine Peso = 0.19529 El Salvador Colon
1 Philippine Peso = 3.66153 Syrian Pound
1 Philippine Peso = 0.24464 Swaziland Lilageni
1 Philippine Peso = 0.72315 Thai Baht
1 Philippine Peso = 0.04031 Tunisian Dinar
1 Philippine Peso = 0.04395 Tonga Pa'ang
1 Philippine Peso = 0.04991 Turkish Lira
1 Philippine Peso = 0.14146 Trinidad Tobago Dollar
1 Philippine Peso = 0.67888 Taiwan Dollar
1 Philippine Peso = 38.21165 Tanzanian Shilling
1 Philippine Peso = 0.28924 Ukraine Hryvnia
1 Philippine Peso = 60.28131 Ugandan Shilling
1 Philippine Peso = 0.02233 United States Dollar
1 Philippine Peso = 0.54298 Uruguayan New Peso
1 Philippine Peso = 53.03773 Uzbekistan Sum
1 Philippine Peso = 0.14052 Venezuelan Bolivar
1 Philippine Peso = 474.32463 Vietnam Dong
1 Philippine Peso = 2.18799 Vanuatu Vatu
1 Philippine Peso = 0.05336 Samoa Tala
1 Philippine Peso = 11.55802 CFA Franc (BEAC)
1 Philippine Peso = 0.06028 East Caribbean Dollar
1 Philippine Peso = 11.50815 CFA Franc (BCEAO)
1 Philippine Peso = 2.1065 Pacific Franc
1 Philippine Peso = 4.80051 Yemen Riyal
1 Philippine Peso = 0.24408 South African Rand
1 Philippine Peso = 115.86292 Zambian Kwacha
1 Philippine Peso = 8.07993 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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