September 3, 2014, 7:42 am
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1 Philippine Peso = 0.08409 UAE Dirham
1 Philippine Peso = 2.42823 Albanian Lek
1 Philippine Peso = 0.04098 Neth Antilles Guilder
1 Philippine Peso = 0.19242 Argentine Peso
1 Philippine Peso = 0.0245 Australian Dollar
1 Philippine Peso = 0.04075 Aruba Florin
1 Philippine Peso = 0.04579 Barbados Dollar
1 Philippine Peso = 1.77656 Bangladesh Taka
1 Philippine Peso = 0.03407 Bulgarian Lev
1 Philippine Peso = 0.00863 Bahraini Dinar
1 Philippine Peso = 35.4739 Burundi Franc
1 Philippine Peso = 0.02289 Bermuda Dollar
1 Philippine Peso = 0.0286 Brunei Dollar
1 Philippine Peso = 0.1582 Bolivian Boliviano
1 Philippine Peso = 0.05215 Brazilian Real
1 Philippine Peso = 0.02289 Bahamian Dollar
1 Philippine Peso = 1.38496 Bhutan Ngultrum
1 Philippine Peso = 0.2035 Botswana Pula
1 Philippine Peso = 238.78205 Belarus Ruble
1 Philippine Peso = 0.04567 Belize Dollar
1 Philippine Peso = 0.02488 Canadian Dollar
1 Philippine Peso = 0.02104 Swiss Franc
1 Philippine Peso = 13.43315 Chilean Peso
1 Philippine Peso = 0.14062 Chinese Yuan
1 Philippine Peso = 44.08196 Colombian Peso
1 Philippine Peso = 12.40614 Costa Rica Colon
1 Philippine Peso = 0.02289 Cuban Peso
1 Philippine Peso = 1.88233 Cape Verde Escudo
1 Philippine Peso = 0.48348 Czech Koruna
1 Philippine Peso = 4.14835 Djibouti Franc
1 Philippine Peso = 0.12991 Danish Krone
1 Philippine Peso = 0.99931 Dominican Peso
1 Philippine Peso = 1.85462 Algerian Dinar
1 Philippine Peso = 0.27288 Estonian Kroon
1 Philippine Peso = 0.1637 Egyptian Pound
1 Philippine Peso = 0.45499 Ethiopian Birr
1 Philippine Peso = 0.01744 Euro
1 Philippine Peso = 0.04264 Fiji Dollar
1 Philippine Peso = 0.01379 Falkland Islands Pound
1 Philippine Peso = 0.01379 British Pound
1 Philippine Peso = 0.08522 Ghanaian Cedi
1 Philippine Peso = 0.90659 Gambian Dalasi
1 Philippine Peso = 160.94322 Guinea Franc
1 Philippine Peso = 0.17785 Guatemala Quetzal
1 Philippine Peso = 4.77221 Guyana Dollar
1 Philippine Peso = 0.17743 Hong Kong Dollar
1 Philippine Peso = 0.48321 Honduras Lempira
1 Philippine Peso = 0.1329 Croatian Kuna
1 Philippine Peso = 1.03899 Haiti Gourde
1 Philippine Peso = 5.49679 Hungarian Forint
1 Philippine Peso = 267.58242 Indonesian Rupiah
1 Philippine Peso = 0.08179 Israeli Shekel
1 Philippine Peso = 1.38519 Indian Rupee
1 Philippine Peso = 26.62546 Iraqi Dinar
1 Philippine Peso = 608.67674 Iran Rial
1 Philippine Peso = 2.6756 Iceland Krona
1 Philippine Peso = 2.57853 Jamaican Dollar
1 Philippine Peso = 0.0162 Jordanian Dinar
1 Philippine Peso = 2.38519 Japanese Yen
1 Philippine Peso = 2.02152 Kenyan Shilling
1 Philippine Peso = 1.21206 Kyrgyzstan Som
1 Philippine Peso = 93.06319 Cambodia Riel
1 Philippine Peso = 8.58428 Comoros Franc
1 Philippine Peso = 20.6044 North Korean Won
1 Philippine Peso = 23.20742 Korean Won
1 Philippine Peso = 0.00652 Kuwaiti Dinar
1 Philippine Peso = 0.01877 Cayman Islands Dollar
1 Philippine Peso = 4.16838 Kazakhstan Tenge
1 Philippine Peso = 184.19185 Lao Kip
1 Philippine Peso = 34.62683 Lebanese Pound
1 Philippine Peso = 2.98111 Sri Lanka Rupee
1 Philippine Peso = 1.88874 Liberian Dollar
1 Philippine Peso = 0.24341 Lesotho Loti
1 Philippine Peso = 0.06022 Lithuanian Lita
1 Philippine Peso = 0.01225 Latvian Lat
1 Philippine Peso = 0.02811 Libyan Dinar
1 Philippine Peso = 0.19418 Moroccan Dirham
1 Philippine Peso = 0.31834 Moldovan Leu
1 Philippine Peso = 1.06777 Macedonian Denar
1 Philippine Peso = 22.29853 Myanmar Kyat
1 Philippine Peso = 41.83837 Mongolian Tugrik
1 Philippine Peso = 0.18275 Macau Pataca
1 Philippine Peso = 6.65064 Mauritania Ougulya
1 Philippine Peso = 0.71142 Mauritius Rupee
1 Philippine Peso = 0.35234 Maldives Rufiyaa
1 Philippine Peso = 9.04418 Malawi Kwacha
1 Philippine Peso = 0.29951 Mexican Peso
1 Philippine Peso = 0.07216 Malaysian Ringgit
1 Philippine Peso = 0.24451 Namibian Dollar
1 Philippine Peso = 3.71474 Nigerian Naira
1 Philippine Peso = 0.59902 Nicaragua Cordoba
1 Philippine Peso = 0.14185 Norwegian Krone
1 Philippine Peso = 2.21612 Nepalese Rupee
1 Philippine Peso = 0.02734 New Zealand Dollar
1 Philippine Peso = 0.00881 Omani Rial
1 Philippine Peso = 0.02289 Panama Balboa
1 Philippine Peso = 0.06479 Peruvian Nuevo Sol
1 Philippine Peso = 0.05662 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.32532 Pakistani Rupee
1 Philippine Peso = 0.07341 Polish Zloty
1 Philippine Peso = 97.67377 Paraguayan Guarani
1 Philippine Peso = 0.08337 Qatar Rial
1 Philippine Peso = 0.07677 Romanian New Leu
1 Philippine Peso = 0.84837 Russian Rouble
1 Philippine Peso = 15.7967 Rwanda Franc
1 Philippine Peso = 0.08586 Saudi Arabian Riyal
1 Philippine Peso = 0.16531 Solomon Islands Dollar
1 Philippine Peso = 0.29731 Seychelles Rupee
1 Philippine Peso = 0.13032 Sudanese Pound
1 Philippine Peso = 0.16008 Swedish Krona
1 Philippine Peso = 0.02861 Singapore Dollar
1 Philippine Peso = 0.01379 St Helena Pound
1 Philippine Peso = 0.50838 Slovak Koruna
1 Philippine Peso = 100.7326 Sierra Leone Leone
1 Philippine Peso = 19.09341 Somali Shilling
1 Philippine Peso = 423.19139 Sao Tome Dobra
1 Philippine Peso = 0.20025 El Salvador Colon
1 Philippine Peso = 3.5016 Syrian Pound
1 Philippine Peso = 0.24522 Swaziland Lilageni
1 Philippine Peso = 0.73157 Thai Baht
1 Philippine Peso = 0.03967 Tunisian Dinar
1 Philippine Peso = 0.04227 Tonga Pa'ang
1 Philippine Peso = 0.04947 Turkish Lira
1 Philippine Peso = 0.14527 Trinidad Tobago Dollar
1 Philippine Peso = 0.68484 Taiwan Dollar
1 Philippine Peso = 38.038 Tanzanian Shilling
1 Philippine Peso = 0.3061 Ukraine Hryvnia
1 Philippine Peso = 59.36355 Ugandan Shilling
1 Philippine Peso = 0.02289 United States Dollar
1 Philippine Peso = 0.55037 Uruguayan New Peso
1 Philippine Peso = 53.75504 Uzbekistan Sum
1 Philippine Peso = 0.14406 Venezuelan Bolivar
1 Philippine Peso = 484.77564 Vietnam Dong
1 Philippine Peso = 2.16071 Vanuatu Vatu
1 Philippine Peso = 0.05273 Samoa Tala
1 Philippine Peso = 11.4457 CFA Franc (BEAC)
1 Philippine Peso = 0.06181 East Caribbean Dollar
1 Philippine Peso = 11.35531 CFA Franc (BCEAO)
1 Philippine Peso = 2.06227 Pacific Franc
1 Philippine Peso = 4.91999 Yemen Riyal
1 Philippine Peso = 0.24389 South African Rand
1 Philippine Peso = 118.80723 Zambian Kwacha
1 Philippine Peso = 8.28526 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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