August 1, 2014, 11:44 am
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1 Philippine Peso = 0.08457 UAE Dirham
1 Philippine Peso = 2.38775 Albanian Lek
1 Philippine Peso = 0.04122 Neth Antilles Guilder
1 Philippine Peso = 0.18849 Argentine Peso
1 Philippine Peso = 0.0247 Australian Dollar
1 Philippine Peso = 0.04122 Aruba Florin
1 Philippine Peso = 0.04605 Barbados Dollar
1 Philippine Peso = 1.78287 Bangladesh Taka
1 Philippine Peso = 0.03372 Bulgarian Lev
1 Philippine Peso = 0.00868 Bahraini Dinar
1 Philippine Peso = 35.60903 Burundi Franc
1 Philippine Peso = 0.02303 Bermuda Dollar
1 Philippine Peso = 0.02868 Brunei Dollar
1 Philippine Peso = 0.15911 Bolivian Boliviano
1 Philippine Peso = 0.05176 Brazilian Real
1 Philippine Peso = 0.02303 Bahamian Dollar
1 Philippine Peso = 1.38637 Bhutan Ngultrum
1 Philippine Peso = 0.20341 Botswana Pula
1 Philippine Peso = 237.50863 Belarus Ruble
1 Philippine Peso = 0.04594 Belize Dollar
1 Philippine Peso = 0.02511 Canadian Dollar
1 Philippine Peso = 0.02092 Swiss Franc
1 Philippine Peso = 13.16095 Chilean Peso
1 Philippine Peso = 0.14216 Chinese Yuan
1 Philippine Peso = 43.31568 Colombian Peso
1 Philippine Peso = 12.40847 Costa Rica Colon
1 Philippine Peso = 0.02303 Cuban Peso
1 Philippine Peso = 1.86945 Cape Verde Escudo
1 Philippine Peso = 0.47358 Czech Koruna
1 Philippine Peso = 4.13539 Djibouti Franc
1 Philippine Peso = 0.12815 Danish Krone
1 Philippine Peso = 1.00414 Dominican Peso
1 Philippine Peso = 1.8402 Algerian Dinar
1 Philippine Peso = 0.26894 Estonian Kroon
1 Philippine Peso = 0.16463 Egyptian Pound
1 Philippine Peso = 0.45527 Ethiopian Birr
1 Philippine Peso = 0.01719 Euro
1 Philippine Peso = 0.04236 Fiji Dollar
1 Philippine Peso = 0.01361 Falkland Islands Pound
1 Philippine Peso = 0.01361 British Pound
1 Philippine Peso = 0.07904 Ghanaian Cedi
1 Philippine Peso = 0.91181 Gambian Dalasi
1 Philippine Peso = 161.9848 Guinea Franc
1 Philippine Peso = 0.17998 Guatemala Quetzal
1 Philippine Peso = 4.73636 Guyana Dollar
1 Philippine Peso = 0.17845 Hong Kong Dollar
1 Philippine Peso = 0.48301 Honduras Lempira
1 Philippine Peso = 0.1313 Croatian Kuna
1 Philippine Peso = 1.04301 Haiti Gourde
1 Philippine Peso = 5.35586 Hungarian Forint
1 Philippine Peso = 266.69353 Indonesian Rupiah
1 Philippine Peso = 0.07891 Israeli Shekel
1 Philippine Peso = 1.3864 Indian Rupee
1 Philippine Peso = 26.83353 Iraqi Dinar
1 Philippine Peso = 605.0426 Iran Rial
1 Philippine Peso = 2.65485 Iceland Krona
1 Philippine Peso = 2.59498 Jamaican Dollar
1 Philippine Peso = 0.0163 Jordanian Dinar
1 Philippine Peso = 2.36599 Japanese Yen
1 Philippine Peso = 2.02118 Kenyan Shilling
1 Philippine Peso = 1.19334 Kyrgyzstan Som
1 Philippine Peso = 93.25351 Cambodia Riel
1 Philippine Peso = 8.45582 Comoros Franc
1 Philippine Peso = 20.723 North Korean Won
1 Philippine Peso = 23.64149 Korean Won
1 Philippine Peso = 0.00652 Kuwaiti Dinar
1 Philippine Peso = 0.01888 Cayman Islands Dollar
1 Philippine Peso = 4.22738 Kazakhstan Tenge
1 Philippine Peso = 185.39028 Lao Kip
1 Philippine Peso = 34.82616 Lebanese Pound
1 Philippine Peso = 2.99793 Sri Lanka Rupee
1 Philippine Peso = 2.12986 Liberian Dollar
1 Philippine Peso = 0.24568 Lesotho Loti
1 Philippine Peso = 0.05934 Lithuanian Lita
1 Philippine Peso = 0.01207 Latvian Lat
1 Philippine Peso = 0.02847 Libyan Dinar
1 Philippine Peso = 0.19207 Moroccan Dirham
1 Philippine Peso = 0.32017 Moldovan Leu
1 Philippine Peso = 1.04709 Macedonian Denar
1 Philippine Peso = 22.44992 Myanmar Kyat
1 Philippine Peso = 42.76997 Mongolian Tugrik
1 Philippine Peso = 0.1838 Macau Pataca
1 Philippine Peso = 6.68892 Mauritania Ougulya
1 Philippine Peso = 0.69998 Mauritius Rupee
1 Philippine Peso = 0.35436 Maldives Rufiyaa
1 Philippine Peso = 9.14115 Malawi Kwacha
1 Philippine Peso = 0.3031 Mexican Peso
1 Philippine Peso = 0.07343 Malaysian Ringgit
1 Philippine Peso = 0.24492 Namibian Dollar
1 Philippine Peso = 3.72784 Nigerian Naira
1 Philippine Peso = 0.59878 Nicaragua Cordoba
1 Philippine Peso = 0.14408 Norwegian Krone
1 Philippine Peso = 2.24223 Nepalese Rupee
1 Philippine Peso = 0.02707 New Zealand Dollar
1 Philippine Peso = 0.00886 Omani Rial
1 Philippine Peso = 0.02303 Panama Balboa
1 Philippine Peso = 0.06426 Peruvian Nuevo Sol
1 Philippine Peso = 0.05638 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.27504 Pakistani Rupee
1 Philippine Peso = 0.07147 Polish Zloty
1 Philippine Peso = 98.96062 Paraguayan Guarani
1 Philippine Peso = 0.08382 Qatar Rial
1 Philippine Peso = 0.07571 Romanian New Leu
1 Philippine Peso = 0.8188 Russian Rouble
1 Philippine Peso = 15.84158 Rwanda Franc
1 Philippine Peso = 0.08636 Saudi Arabian Riyal
1 Philippine Peso = 0.1662 Solomon Islands Dollar
1 Philippine Peso = 0.28402 Seychelles Rupee
1 Philippine Peso = 0.13104 Sudanese Pound
1 Philippine Peso = 0.15851 Swedish Krona
1 Philippine Peso = 0.02868 Singapore Dollar
1 Philippine Peso = 0.01361 St Helena Pound
1 Philippine Peso = 0.51131 Slovak Koruna
1 Philippine Peso = 100.62169 Sierra Leone Leone
1 Philippine Peso = 20.60787 Somali Shilling
1 Philippine Peso = 421.48285 Sao Tome Dobra
1 Philippine Peso = 0.2014 El Salvador Colon
1 Philippine Peso = 3.44347 Syrian Pound
1 Philippine Peso = 0.24551 Swaziland Lilageni
1 Philippine Peso = 0.73636 Thai Baht
1 Philippine Peso = 0.03978 Tunisian Dinar
1 Philippine Peso = 0.04287 Tonga Pa'ang
1 Philippine Peso = 0.04913 Turkish Lira
1 Philippine Peso = 0.14651 Trinidad Tobago Dollar
1 Philippine Peso = 0.69055 Taiwan Dollar
1 Philippine Peso = 38.18789 Tanzanian Shilling
1 Philippine Peso = 0.27649 Ukraine Hryvnia
1 Philippine Peso = 60.21184 Ugandan Shilling
1 Philippine Peso = 0.02303 United States Dollar
1 Philippine Peso = 0.53396 Uruguayan New Peso
1 Philippine Peso = 53.60718 Uzbekistan Sum
1 Philippine Peso = 0.14498 Venezuelan Bolivar
1 Philippine Peso = 488.57932 Vietnam Dong
1 Philippine Peso = 2.14944 Vanuatu Vatu
1 Philippine Peso = 0.05306 Samoa Tala
1 Philippine Peso = 11.27442 CFA Franc (BEAC)
1 Philippine Peso = 0.06217 East Caribbean Dollar
1 Philippine Peso = 11.28506 CFA Franc (BCEAO)
1 Philippine Peso = 2.05572 Pacific Franc
1 Philippine Peso = 4.94946 Yemen Riyal
1 Philippine Peso = 0.24588 South African Rand
1 Philippine Peso = 119.49114 Zambian Kwacha
1 Philippine Peso = 8.33295 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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