October 22, 2014, 12:48 pm
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1 Philippine Peso = 0.08206 UAE Dirham
1 Philippine Peso = 2.43945 Albanian Lek
1 Philippine Peso = 0.03999 Neth Antilles Guilder
1 Philippine Peso = 0.18932 Argentine Peso
1 Philippine Peso = 0.02534 Australian Dollar
1 Philippine Peso = 0.03999 Aruba Florin
1 Philippine Peso = 0.04468 Barbados Dollar
1 Philippine Peso = 1.72811 Bangladesh Taka
1 Philippine Peso = 0.03427 Bulgarian Lev
1 Philippine Peso = 0.00842 Bahraini Dinar
1 Philippine Peso = 34.74084 Burundi Franc
1 Philippine Peso = 0.02234 Bermuda Dollar
1 Philippine Peso = 0.0284 Brunei Dollar
1 Philippine Peso = 0.15438 Bolivian Boliviano
1 Philippine Peso = 0.05567 Brazilian Real
1 Philippine Peso = 0.02234 Bahamian Dollar
1 Philippine Peso = 1.37059 Bhutan Ngultrum
1 Philippine Peso = 0.20347 Botswana Pula
1 Philippine Peso = 239.05273 Belarus Ruble
1 Philippine Peso = 0.04457 Belize Dollar
1 Philippine Peso = 0.02506 Canadian Dollar
1 Philippine Peso = 0.02116 Swiss Franc
1 Philippine Peso = 13.0429 Chilean Peso
1 Philippine Peso = 0.13675 Chinese Yuan
1 Philippine Peso = 46.05228 Colombian Peso
1 Philippine Peso = 12.09786 Costa Rica Colon
1 Philippine Peso = 0.02234 Cuban Peso
1 Philippine Peso = 1.90393 Cape Verde Escudo
1 Philippine Peso = 0.48412 Czech Koruna
1 Philippine Peso = 4.06725 Djibouti Franc
1 Philippine Peso = 0.13057 Danish Krone
1 Philippine Peso = 0.98023 Dominican Peso
1 Philippine Peso = 1.86182 Algerian Dinar
1 Philippine Peso = 0.27434 Estonian Kroon
1 Philippine Peso = 0.15981 Egyptian Pound
1 Philippine Peso = 0.44764 Ethiopian Birr
1 Philippine Peso = 0.01753 Euro
1 Philippine Peso = 0.04283 Fiji Dollar
1 Philippine Peso = 0.01383 Falkland Islands Pound
1 Philippine Peso = 0.01383 British Pound
1 Philippine Peso = 0.07166 Ghanaian Cedi
1 Philippine Peso = 0.92605 Gambian Dalasi
1 Philippine Peso = 156.94817 Guinea Franc
1 Philippine Peso = 0.17065 Guatemala Quetzal
1 Philippine Peso = 4.59562 Guyana Dollar
1 Philippine Peso = 0.17329 Hong Kong Dollar
1 Philippine Peso = 0.47625 Honduras Lempira
1 Philippine Peso = 0.13442 Croatian Kuna
1 Philippine Peso = 1.02173 Haiti Gourde
1 Philippine Peso = 5.37723 Hungarian Forint
1 Philippine Peso = 269.10188 Indonesian Rupiah
1 Philippine Peso = 0.08341 Israeli Shekel
1 Philippine Peso = 1.36539 Indian Rupee
1 Philippine Peso = 25.98749 Iraqi Dinar
1 Philippine Peso = 596.89455 Iran Rial
1 Philippine Peso = 2.67717 Iceland Krona
1 Philippine Peso = 2.51117 Jamaican Dollar
1 Philippine Peso = 0.01584 Jordanian Dinar
1 Philippine Peso = 2.38438 Japanese Yen
1 Philippine Peso = 1.98615 Kenyan Shilling
1 Philippine Peso = 1.23904 Kyrgyzstan Som
1 Philippine Peso = 91.04111 Cambodia Riel
1 Philippine Peso = 8.61686 Comoros Franc
1 Philippine Peso = 20.10724 North Korean Won
1 Philippine Peso = 23.53217 Korean Won
1 Philippine Peso = 0.00645 Kuwaiti Dinar
1 Philippine Peso = 0.01832 Cayman Islands Dollar
1 Philippine Peso = 4.04714 Kazakhstan Tenge
1 Philippine Peso = 179.94861 Lao Kip
1 Philippine Peso = 33.8025 Lebanese Pound
1 Philippine Peso = 2.92113 Sri Lanka Rupee
1 Philippine Peso = 1.88785 Liberian Dollar
1 Philippine Peso = 0.24631 Lesotho Loti
1 Philippine Peso = 0.06048 Lithuanian Lita
1 Philippine Peso = 0.01138 Latvian Lat
1 Philippine Peso = 0.02704 Libyan Dinar
1 Philippine Peso = 0.19429 Moroccan Dirham
1 Philippine Peso = 0.32507 Moldovan Leu
1 Philippine Peso = 1.07999 Macedonian Denar
1 Philippine Peso = 22.25201 Myanmar Kyat
1 Philippine Peso = 41.34272 Mongolian Tugrik
1 Philippine Peso = 0.17848 Macau Pataca
1 Philippine Peso = 6.49911 Mauritania Ougulya
1 Philippine Peso = 0.69904 Mauritius Rupee
1 Philippine Peso = 0.34428 Maldives Rufiyaa
1 Philippine Peso = 9.78921 Malawi Kwacha
1 Philippine Peso = 0.30178 Mexican Peso
1 Philippine Peso = 0.07285 Malaysian Ringgit
1 Philippine Peso = 0.24497 Namibian Dollar
1 Philippine Peso = 3.69526 Nigerian Naira
1 Philippine Peso = 0.58858 Nicaragua Cordoba
1 Philippine Peso = 0.1465 Norwegian Krone
1 Philippine Peso = 2.19236 Nepalese Rupee
1 Philippine Peso = 0.02794 New Zealand Dollar
1 Philippine Peso = 0.0086 Omani Rial
1 Philippine Peso = 0.02234 Panama Balboa
1 Philippine Peso = 0.06488 Peruvian Nuevo Sol
1 Philippine Peso = 0.0563 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.30004 Pakistani Rupee
1 Philippine Peso = 0.074 Polish Zloty
1 Philippine Peso = 101.77547 Paraguayan Guarani
1 Philippine Peso = 0.08135 Qatar Rial
1 Philippine Peso = 0.07746 Romanian New Leu
1 Philippine Peso = 0.91624 Russian Rouble
1 Philippine Peso = 15.42672 Rwanda Franc
1 Philippine Peso = 0.08382 Saudi Arabian Riyal
1 Philippine Peso = 0.16549 Solomon Islands Dollar
1 Philippine Peso = 0.31286 Seychelles Rupee
1 Philippine Peso = 0.12718 Sudanese Pound
1 Philippine Peso = 0.16134 Swedish Krona
1 Philippine Peso = 0.02841 Singapore Dollar
1 Philippine Peso = 0.01383 St Helena Pound
1 Philippine Peso = 0.49611 Slovak Koruna
1 Philippine Peso = 97.07328 Sierra Leone Leone
1 Philippine Peso = 17.37042 Somali Shilling
1 Philippine Peso = 429.17784 Sao Tome Dobra
1 Philippine Peso = 0.19542 El Salvador Colon
1 Philippine Peso = 3.63941 Syrian Pound
1 Philippine Peso = 0.24692 Swaziland Lilageni
1 Philippine Peso = 0.72084 Thai Baht
1 Philippine Peso = 0.04014 Tunisian Dinar
1 Philippine Peso = 0.04372 Tonga Pa'ang
1 Philippine Peso = 0.05002 Turkish Lira
1 Philippine Peso = 0.14137 Trinidad Tobago Dollar
1 Philippine Peso = 0.67862 Taiwan Dollar
1 Philippine Peso = 37.8798 Tanzanian Shilling
1 Philippine Peso = 0.29044 Ukraine Hryvnia
1 Philippine Peso = 59.83021 Ugandan Shilling
1 Philippine Peso = 0.02234 United States Dollar
1 Philippine Peso = 0.54446 Uruguayan New Peso
1 Philippine Peso = 53.07328 Uzbekistan Sum
1 Philippine Peso = 0.14048 Venezuelan Bolivar
1 Philippine Peso = 474.64254 Vietnam Dong
1 Philippine Peso = 2.18499 Vanuatu Vatu
1 Philippine Peso = 0.05339 Samoa Tala
1 Philippine Peso = 11.48915 CFA Franc (BEAC)
1 Philippine Peso = 0.06032 East Caribbean Dollar
1 Philippine Peso = 11.4857 CFA Franc (BCEAO)
1 Philippine Peso = 2.08557 Pacific Franc
1 Philippine Peso = 4.80127 Yemen Riyal
1 Philippine Peso = 0.24544 South African Rand
1 Philippine Peso = 115.94057 Zambian Kwacha
1 Philippine Peso = 8.08534 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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