August 4, 2015, 7:43 pm
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1 Philippine Peso = 0.08042 UAE Dirham
1 Philippine Peso = 2.78535 Albanian Lek
1 Philippine Peso = 0.03919 Neth Antilles Guilder
1 Philippine Peso = 0.20141 Argentine Peso
1 Philippine Peso = 0.02997 Australian Dollar
1 Philippine Peso = 0.03919 Aruba Florin
1 Philippine Peso = 0.04379 Barbados Dollar
1 Philippine Peso = 1.70635 Bangladesh Taka
1 Philippine Peso = 0.03899 Bulgarian Lev
1 Philippine Peso = 0.00826 Bahraini Dinar
1 Philippine Peso = 33.91649 Burundi Franc
1 Philippine Peso = 0.0219 Bermuda Dollar
1 Philippine Peso = 0.03005 Brunei Dollar
1 Philippine Peso = 0.15108 Bolivian Boliviano
1 Philippine Peso = 0.07494 Brazilian Real
1 Philippine Peso = 0.0219 Bahamian Dollar
1 Philippine Peso = 1.40391 Bhutan Ngultrum
1 Philippine Peso = 0.22231 Botswana Pula
1 Philippine Peso = 334.03035 Belarus Ruble
1 Philippine Peso = 0.04412 Belize Dollar
1 Philippine Peso = 0.02866 Canadian Dollar
1 Philippine Peso = 0.02116 Swiss Franc
1 Philippine Peso = 14.76856 Chilean Peso
1 Philippine Peso = 0.13596 Chinese Yuan
1 Philippine Peso = 63.05971 Colombian Peso
1 Philippine Peso = 11.67918 Costa Rica Colon
1 Philippine Peso = 0.0219 Cuban Peso
1 Philippine Peso = 2.18737 Cape Verde Escudo
1 Philippine Peso = 0.53972 Czech Koruna
1 Philippine Peso = 3.90083 Djibouti Franc
1 Philippine Peso = 0.14861 Danish Krone
1 Philippine Peso = 0.98695 Dominican Peso
1 Philippine Peso = 2.17457 Algerian Dinar
1 Philippine Peso = 0.31118 Estonian Kroon
1 Philippine Peso = 0.17144 Egyptian Pound
1 Philippine Peso = 0.45449 Ethiopian Birr
1 Philippine Peso = 0.01989 Euro
1 Philippine Peso = 0.04692 Fiji Dollar
1 Philippine Peso = 0.01387 Falkland Islands Pound
1 Philippine Peso = 0.01402 British Pound
1 Philippine Peso = 0.08364 Ghanaian Cedi
1 Philippine Peso = 0.8524 Gambian Dalasi
1 Philippine Peso = 159.29036 Guinea Franc
1 Philippine Peso = 0.16751 Guatemala Quetzal
1 Philippine Peso = 4.53701 Guyana Dollar
1 Philippine Peso = 0.16969 Hong Kong Dollar
1 Philippine Peso = 0.48106 Honduras Lempira
1 Philippine Peso = 0.15133 Croatian Kuna
1 Philippine Peso = 1.21319 Haiti Gourde
1 Philippine Peso = 6.12292 Hungarian Forint
1 Philippine Peso = 295.81135 Indonesian Rupiah
1 Philippine Peso = 0.08263 Israeli Shekel
1 Philippine Peso = 1.40103 Indian Rupee
1 Philippine Peso = 26.09971 Iraqi Dinar
1 Philippine Peso = 648.11368 Iran Rial
1 Philippine Peso = 2.93731 Iceland Krona
1 Philippine Peso = 2.56415 Jamaican Dollar
1 Philippine Peso = 0.01551 Jordanian Dinar
1 Philippine Peso = 2.71332 Japanese Yen
1 Philippine Peso = 2.242 Kenyan Shilling
1 Philippine Peso = 1.33611 Kyrgyzstan Som
1 Philippine Peso = 90.20933 Cambodia Riel
1 Philippine Peso = 9.80655 Comoros Franc
1 Philippine Peso = 19.70616 North Korean Won
1 Philippine Peso = 25.54893 Korean Won
1 Philippine Peso = 0.00663 Kuwaiti Dinar
1 Philippine Peso = 0.01795 Cayman Islands Dollar
1 Philippine Peso = 4.10501 Kazakhstan Tenge
1 Philippine Peso = 179.76287 Lao Kip
1 Philippine Peso = 33.00125 Lebanese Pound
1 Philippine Peso = 2.93063 Sri Lanka Rupee
1 Philippine Peso = 1.85369 Liberian Dollar
1 Philippine Peso = 0.27752 Lesotho Loti
1 Philippine Peso = 0.06675 Lithuanian Lita
1 Philippine Peso = 0.01359 Latvian Lat
1 Philippine Peso = 0.02989 Libyan Dinar
1 Philippine Peso = 0.21447 Moroccan Dirham
1 Philippine Peso = 0.41054 Moldovan Leu
1 Philippine Peso = 1.22747 Macedonian Denar
1 Philippine Peso = 27.03028 Myanmar Kyat
1 Philippine Peso = 43.39734 Mongolian Tugrik
1 Philippine Peso = 0.17485 Macau Pataca
1 Philippine Peso = 7.11611 Mauritania Ougulya
1 Philippine Peso = 0.77555 Mauritius Rupee
1 Philippine Peso = 0.33676 Maldives Rufiyaa
1 Philippine Peso = 10.78354 Malawi Kwacha
1 Philippine Peso = 0.35274 Mexican Peso
1 Philippine Peso = 0.0837 Malaysian Ringgit
1 Philippine Peso = 0.27752 Namibian Dollar
1 Philippine Peso = 4.36163 Nigerian Naira
1 Philippine Peso = 0.59913 Nicaragua Cordoba
1 Philippine Peso = 0.17901 Norwegian Krone
1 Philippine Peso = 2.24626 Nepalese Rupee
1 Philippine Peso = 0.0332 New Zealand Dollar
1 Philippine Peso = 0.00843 Omani Rial
1 Philippine Peso = 0.0219 Panama Balboa
1 Philippine Peso = 0.06976 Peruvian Nuevo Sol
1 Philippine Peso = 0.0606 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.22844 Pakistani Rupee
1 Philippine Peso = 0.08255 Polish Zloty
1 Philippine Peso = 113.23904 Paraguayan Guarani
1 Philippine Peso = 0.07973 Qatar Rial
1 Philippine Peso = 0.08788 Romanian New Leu
1 Philippine Peso = 1.35158 Russian Rouble
1 Philippine Peso = 15.91163 Rwanda Franc
1 Philippine Peso = 0.08213 Saudi Arabian Riyal
1 Philippine Peso = 0.17462 Solomon Islands Dollar
1 Philippine Peso = 0.28625 Seychelles Rupee
1 Philippine Peso = 0.1312 Sudanese Pound
1 Philippine Peso = 0.18887 Swedish Krona
1 Philippine Peso = 0.03004 Singapore Dollar
1 Philippine Peso = 0.01404 St Helena Pound
1 Philippine Peso = 0.48622 Slovak Koruna
1 Philippine Peso = 85.98465 Sierra Leone Leone
1 Philippine Peso = 14.66905 Somali Shilling
1 Philippine Peso = 482.69142 Sao Tome Dobra
1 Philippine Peso = 0.19132 El Salvador Colon
1 Philippine Peso = 4.1344 Syrian Pound
1 Philippine Peso = 0.27752 Swaziland Lilageni
1 Philippine Peso = 0.7661 Thai Baht
1 Philippine Peso = 0.04308 Tunisian Dinar
1 Philippine Peso = 0.04657 Tonga Pa'ang
1 Philippine Peso = 0.06067 Turkish Lira
1 Philippine Peso = 0.13902 Trinidad Tobago Dollar
1 Philippine Peso = 0.69366 Taiwan Dollar
1 Philippine Peso = 46.55361 Tanzanian Shilling
1 Philippine Peso = 0.46472 Ukraine Hryvnia
1 Philippine Peso = 74.99288 Ugandan Shilling
1 Philippine Peso = 0.0219 United States Dollar
1 Philippine Peso = 0.62239 Uruguayan New Peso
1 Philippine Peso = 56.38545 Uzbekistan Sum
1 Philippine Peso = 0.13904 Venezuelan Bolivar
1 Philippine Peso = 477.72109 Vietnam Dong
1 Philippine Peso = 2.41181 Vanuatu Vatu
1 Philippine Peso = 0.05697 Samoa Tala
1 Philippine Peso = 13.0754 CFA Franc (BEAC)
1 Philippine Peso = 0.05912 East Caribbean Dollar
1 Philippine Peso = 13.0754 CFA Franc (BCEAO)
1 Philippine Peso = 2.37868 Pacific Franc
1 Philippine Peso = 4.71087 Yemen Riyal
1 Philippine Peso = 0.27778 South African Rand
1 Philippine Peso = 113.6279 Zambian Kwacha
1 Philippine Peso = 7.92407 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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