February 1, 2015, 6:35 am
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1 Philippine Peso = 0.0833 UAE Dirham
1 Philippine Peso = 2.78939 Albanian Lek
1 Philippine Peso = 0.04059 Neth Antilles Guilder
1 Philippine Peso = 0.19573 Argentine Peso
1 Philippine Peso = 0.02869 Australian Dollar
1 Philippine Peso = 0.04059 Aruba Florin
1 Philippine Peso = 0.04536 Barbados Dollar
1 Philippine Peso = 1.76538 Bangladesh Taka
1 Philippine Peso = 0.03928 Bulgarian Lev
1 Philippine Peso = 0.00855 Bahraini Dinar
1 Philippine Peso = 35.27117 Burundi Franc
1 Philippine Peso = 0.02268 Bermuda Dollar
1 Philippine Peso = 0.0307 Brunei Dollar
1 Philippine Peso = 0.15671 Bolivian Boliviano
1 Philippine Peso = 0.05843 Brazilian Real
1 Philippine Peso = 0.02268 Bahamian Dollar
1 Philippine Peso = 1.39101 Bhutan Ngultrum
1 Philippine Peso = 0.2178 Botswana Pula
1 Philippine Peso = 353.26734 Belarus Ruble
1 Philippine Peso = 0.04524 Belize Dollar
1 Philippine Peso = 0.02839 Canadian Dollar
1 Philippine Peso = 0.02056 Swiss Franc
1 Philippine Peso = 14.11833 Chilean Peso
1 Philippine Peso = 0.1417 Chinese Yuan
1 Philippine Peso = 53.61658 Colombian Peso
1 Philippine Peso = 12.15487 Costa Rica Colon
1 Philippine Peso = 0.02268 Cuban Peso
1 Philippine Peso = 2.21178 Cape Verde Escudo
1 Philippine Peso = 0.55748 Czech Koruna
1 Philippine Peso = 4.01299 Djibouti Franc
1 Philippine Peso = 0.14951 Danish Krone
1 Philippine Peso = 1.0136 Dominican Peso
1 Philippine Peso = 2.09307 Algerian Dinar
1 Philippine Peso = 0.31421 Estonian Kroon
1 Philippine Peso = 0.16939 Egyptian Pound
1 Philippine Peso = 0.45956 Ethiopian Birr
1 Philippine Peso = 0.02008 Euro
1 Philippine Peso = 0.0463 Fiji Dollar
1 Philippine Peso = 0.01497 Falkland Islands Pound
1 Philippine Peso = 0.01497 British Pound
1 Philippine Peso = 0.07443 Ghanaian Cedi
1 Philippine Peso = 0.97742 Gambian Dalasi
1 Philippine Peso = 159.4267 Guinea Franc
1 Philippine Peso = 0.17359 Guatemala Quetzal
1 Philippine Peso = 4.69912 Guyana Dollar
1 Philippine Peso = 0.1758 Hong Kong Dollar
1 Philippine Peso = 0.47624 Honduras Lempira
1 Philippine Peso = 0.15453 Croatian Kuna
1 Philippine Peso = 1.06381 Haiti Gourde
1 Philippine Peso = 6.2774 Hungarian Forint
1 Philippine Peso = 284.15031 Indonesian Rupiah
1 Philippine Peso = 0.08942 Israeli Shekel
1 Philippine Peso = 1.38857 Indian Rupee
1 Philippine Peso = 26.89617 Iraqi Dinar
1 Philippine Peso = 623.53301 Iran Rial
1 Philippine Peso = 3.03704 Iceland Krona
1 Philippine Peso = 2.61897 Jamaican Dollar
1 Philippine Peso = 0.01609 Jordanian Dinar
1 Philippine Peso = 2.66793 Japanese Yen
1 Philippine Peso = 2.08183 Kenyan Shilling
1 Philippine Peso = 1.35842 Kyrgyzstan Som
1 Philippine Peso = 92.09443 Cambodia Riel
1 Philippine Peso = 9.88734 Comoros Franc
1 Philippine Peso = 20.41025 North Korean Won
1 Philippine Peso = 24.66488 Korean Won
1 Philippine Peso = 0.0067 Kuwaiti Dinar
1 Philippine Peso = 0.0186 Cayman Islands Dollar
1 Philippine Peso = 4.18716 Kazakhstan Tenge
1 Philippine Peso = 184.03125 Lao Kip
1 Philippine Peso = 34.2552 Lebanese Pound
1 Philippine Peso = 2.99974 Sri Lanka Rupee
1 Philippine Peso = 1.91849 Liberian Dollar
1 Philippine Peso = 0.26258 Lesotho Loti
1 Philippine Peso = 0.06654 Lithuanian Lita
1 Philippine Peso = 0.01413 Latvian Lat
1 Philippine Peso = 0.0305 Libyan Dinar
1 Philippine Peso = 0.21754 Moroccan Dirham
1 Philippine Peso = 0.4065 Moldovan Leu
1 Philippine Peso = 1.23006 Macedonian Denar
1 Philippine Peso = 23.3017 Myanmar Kyat
1 Philippine Peso = 44.00676 Mongolian Tugrik
1 Philippine Peso = 0.18108 Macau Pataca
1 Philippine Peso = 6.89413 Mauritania Ougulya
1 Philippine Peso = 0.7393 Mauritius Rupee
1 Philippine Peso = 0.34856 Maldives Rufiyaa
1 Philippine Peso = 10.43179 Malawi Kwacha
1 Philippine Peso = 0.33413 Mexican Peso
1 Philippine Peso = 0.08215 Malaysian Ringgit
1 Philippine Peso = 0.26258 Namibian Dollar
1 Philippine Peso = 4.30724 Nigerian Naira
1 Philippine Peso = 0.60546 Nicaragua Cordoba
1 Philippine Peso = 0.17754 Norwegian Krone
1 Philippine Peso = 2.22562 Nepalese Rupee
1 Philippine Peso = 0.03094 New Zealand Dollar
1 Philippine Peso = 0.00873 Omani Rial
1 Philippine Peso = 0.02268 Panama Balboa
1 Philippine Peso = 0.06876 Peruvian Nuevo Sol
1 Philippine Peso = 0.05931 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.28754 Pakistani Rupee
1 Philippine Peso = 0.08522 Polish Zloty
1 Philippine Peso = 108.98448 Paraguayan Guarani
1 Philippine Peso = 0.0826 Qatar Rial
1 Philippine Peso = 0.08946 Romanian New Leu
1 Philippine Peso = 1.53824 Russian Rouble
1 Philippine Peso = 15.6025 Rwanda Franc
1 Philippine Peso = 0.08524 Saudi Arabian Riyal
1 Philippine Peso = 0.17516 Solomon Islands Dollar
1 Philippine Peso = 0.32123 Seychelles Rupee
1 Philippine Peso = 0.12909 Sudanese Pound
1 Philippine Peso = 0.18807 Swedish Krona
1 Philippine Peso = 0.03068 Singapore Dollar
1 Philippine Peso = 0.01491 St Helena Pound
1 Philippine Peso = 0.50359 Slovak Koruna
1 Philippine Peso = 96.92599 Sierra Leone Leone
1 Philippine Peso = 16.10028 Somali Shilling
1 Philippine Peso = 489.39234 Sao Tome Dobra
1 Philippine Peso = 0.19832 El Salvador Colon
1 Philippine Peso = 4.28615 Syrian Pound
1 Philippine Peso = 0.26258 Swaziland Lilageni
1 Philippine Peso = 0.73839 Thai Baht
1 Philippine Peso = 0.04386 Tunisian Dinar
1 Philippine Peso = 0.0443 Tonga Pa'ang
1 Philippine Peso = 0.05416 Turkish Lira
1 Philippine Peso = 0.1438 Trinidad Tobago Dollar
1 Philippine Peso = 0.70812 Taiwan Dollar
1 Philippine Peso = 41.24117 Tanzanian Shilling
1 Philippine Peso = 0.36102 Ukraine Hryvnia
1 Philippine Peso = 64.74584 Ugandan Shilling
1 Philippine Peso = 0.02268 United States Dollar
1 Philippine Peso = 0.55062 Uruguayan New Peso
1 Philippine Peso = 55.24736 Uzbekistan Sum
1 Philippine Peso = 0.14401 Venezuelan Bolivar
1 Philippine Peso = 484.063 Vietnam Dong
1 Philippine Peso = 2.43041 Vanuatu Vatu
1 Philippine Peso = 0.0564 Samoa Tala
1 Philippine Peso = 13.18311 CFA Franc (BEAC)
1 Philippine Peso = 0.06123 East Caribbean Dollar
1 Philippine Peso = 13.18311 CFA Franc (BCEAO)
1 Philippine Peso = 2.39827 Pacific Franc
1 Philippine Peso = 4.87805 Yemen Riyal
1 Philippine Peso = 0.2626 South African Rand
1 Philippine Peso = 117.68775 Zambian Kwacha
1 Philippine Peso = 8.20719 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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