July 5, 2015, 9:17 pm
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1 Philippine Peso = 0.08157 UAE Dirham
1 Philippine Peso = 2.80396 Albanian Lek
1 Philippine Peso = 0.03975 Neth Antilles Guilder
1 Philippine Peso = 0.20206 Argentine Peso
1 Philippine Peso = 0.02954 Australian Dollar
1 Philippine Peso = 0.03975 Aruba Florin
1 Philippine Peso = 0.04441 Barbados Dollar
1 Philippine Peso = 1.72883 Bangladesh Taka
1 Philippine Peso = 0.03915 Bulgarian Lev
1 Philippine Peso = 0.00837 Bahraini Dinar
1 Philippine Peso = 35.59651 Burundi Franc
1 Philippine Peso = 0.02221 Bermuda Dollar
1 Philippine Peso = 0.02989 Brunei Dollar
1 Philippine Peso = 0.15322 Bolivian Boliviano
1 Philippine Peso = 0.06961 Brazilian Real
1 Philippine Peso = 0.02221 Bahamian Dollar
1 Philippine Peso = 1.40909 Bhutan Ngultrum
1 Philippine Peso = 0.2209 Botswana Pula
1 Philippine Peso = 341.42009 Belarus Ruble
1 Philippine Peso = 0.04475 Belize Dollar
1 Philippine Peso = 0.02792 Canadian Dollar
1 Philippine Peso = 0.02088 Swiss Franc
1 Philippine Peso = 14.14523 Chilean Peso
1 Philippine Peso = 0.13782 Chinese Yuan
1 Philippine Peso = 58.55394 Colombian Peso
1 Philippine Peso = 11.84656 Costa Rica Colon
1 Philippine Peso = 0.02221 Cuban Peso
1 Philippine Peso = 2.1934 Cape Verde Escudo
1 Philippine Peso = 0.54158 Czech Koruna
1 Philippine Peso = 3.93172 Djibouti Franc
1 Philippine Peso = 0.14908 Danish Krone
1 Philippine Peso = 0.99239 Dominican Peso
1 Philippine Peso = 2.19697 Algerian Dinar
1 Philippine Peso = 0.31264 Estonian Kroon
1 Philippine Peso = 0.17147 Egyptian Pound
1 Philippine Peso = 0.45925 Ethiopian Birr
1 Philippine Peso = 0.01998 Euro
1 Philippine Peso = 0.04668 Fiji Dollar
1 Philippine Peso = 0.01417 Falkland Islands Pound
1 Philippine Peso = 0.01426 British Pound
1 Philippine Peso = 0.09149 Ghanaian Cedi
1 Philippine Peso = 0.86937 Gambian Dalasi
1 Philippine Peso = 156.33043 Guinea Franc
1 Philippine Peso = 0.16927 Guatemala Quetzal
1 Philippine Peso = 4.60134 Guyana Dollar
1 Philippine Peso = 0.17216 Hong Kong Dollar
1 Philippine Peso = 0.48625 Honduras Lempira
1 Philippine Peso = 0.1517 Croatian Kuna
1 Philippine Peso = 1.1608 Haiti Gourde
1 Philippine Peso = 6.28701 Hungarian Forint
1 Philippine Peso = 296.85227 Indonesian Rupiah
1 Philippine Peso = 0.08338 Israeli Shekel
1 Philippine Peso = 1.40826 Indian Rupee
1 Philippine Peso = 26.45867 Iraqi Dinar
1 Philippine Peso = 652.86182 Iran Rial
1 Philippine Peso = 2.9381 Iceland Krona
1 Philippine Peso = 2.59279 Jamaican Dollar
1 Philippine Peso = 0.01573 Jordanian Dinar
1 Philippine Peso = 2.72858 Japanese Yen
1 Philippine Peso = 2.21126 Kenyan Shilling
1 Philippine Peso = 1.37886 Kyrgyzstan Som
1 Philippine Peso = 91.37734 Cambodia Riel
1 Philippine Peso = 9.83546 Comoros Franc
1 Philippine Peso = 19.98557 North Korean Won
1 Philippine Peso = 24.91856 Korean Won
1 Philippine Peso = 0.00672 Kuwaiti Dinar
1 Philippine Peso = 0.01821 Cayman Islands Dollar
1 Philippine Peso = 4.13501 Kazakhstan Tenge
1 Philippine Peso = 180.20208 Lao Kip
1 Philippine Peso = 33.45362 Lebanese Pound
1 Philippine Peso = 2.97119 Sri Lanka Rupee
1 Philippine Peso = 1.87998 Liberian Dollar
1 Philippine Peso = 0.27358 Lesotho Loti
1 Philippine Peso = 0.0677 Lithuanian Lita
1 Philippine Peso = 0.01378 Latvian Lat
1 Philippine Peso = 0.03042 Libyan Dinar
1 Philippine Peso = 0.21656 Moroccan Dirham
1 Philippine Peso = 0.42292 Moldovan Leu
1 Philippine Peso = 1.232 Macedonian Denar
1 Philippine Peso = 25.16627 Myanmar Kyat
1 Philippine Peso = 43.85721 Mongolian Tugrik
1 Philippine Peso = 0.17732 Macau Pataca
1 Philippine Peso = 7.26142 Mauritania Ougulya
1 Philippine Peso = 0.78121 Mauritius Rupee
1 Philippine Peso = 0.34198 Maldives Rufiyaa
1 Philippine Peso = 9.77061 Malawi Kwacha
1 Philippine Peso = 0.34945 Mexican Peso
1 Philippine Peso = 0.08412 Malaysian Ringgit
1 Philippine Peso = 0.27358 Namibian Dollar
1 Philippine Peso = 4.41792 Nigerian Naira
1 Philippine Peso = 0.60536 Nicaragua Cordoba
1 Philippine Peso = 0.17741 Norwegian Krone
1 Philippine Peso = 2.25455 Nepalese Rupee
1 Philippine Peso = 0.03318 New Zealand Dollar
1 Philippine Peso = 0.00855 Omani Rial
1 Philippine Peso = 0.02221 Panama Balboa
1 Philippine Peso = 0.07054 Peruvian Nuevo Sol
1 Philippine Peso = 0.06112 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.25915 Pakistani Rupee
1 Philippine Peso = 0.08375 Polish Zloty
1 Philippine Peso = 114.3281 Paraguayan Guarani
1 Philippine Peso = 0.08083 Qatar Rial
1 Philippine Peso = 0.0897 Romanian New Leu
1 Philippine Peso = 1.24597 Russian Rouble
1 Philippine Peso = 16.05507 Rwanda Franc
1 Philippine Peso = 0.0833 Saudi Arabian Riyal
1 Philippine Peso = 0.17486 Solomon Islands Dollar
1 Philippine Peso = 0.29112 Seychelles Rupee
1 Philippine Peso = 0.13248 Sudanese Pound
1 Philippine Peso = 0.18773 Swedish Krona
1 Philippine Peso = 0.02988 Singapore Dollar
1 Philippine Peso = 0.01423 St Helena Pound
1 Philippine Peso = 0.49311 Slovak Koruna
1 Philippine Peso = 93.88775 Sierra Leone Leone
1 Philippine Peso = 15.43219 Somali Shilling
1 Philippine Peso = 490.64564 Sao Tome Dobra
1 Philippine Peso = 0.19407 El Salvador Colon
1 Philippine Peso = 4.19302 Syrian Pound
1 Philippine Peso = 0.27358 Swaziland Lilageni
1 Philippine Peso = 0.74933 Thai Baht
1 Philippine Peso = 0.04349 Tunisian Dinar
1 Philippine Peso = 0.04612 Tonga Pa'ang
1 Philippine Peso = 0.05976 Turkish Lira
1 Philippine Peso = 0.14114 Trinidad Tobago Dollar
1 Philippine Peso = 0.68595 Taiwan Dollar
1 Philippine Peso = 45.00083 Tanzanian Shilling
1 Philippine Peso = 0.46966 Ukraine Hryvnia
1 Philippine Peso = 74.83484 Ugandan Shilling
1 Philippine Peso = 0.02221 United States Dollar
1 Philippine Peso = 0.60279 Uruguayan New Peso
1 Philippine Peso = 56.75013 Uzbekistan Sum
1 Philippine Peso = 0.14101 Venezuelan Bolivar
1 Philippine Peso = 484.20585 Vietnam Dong
1 Philippine Peso = 2.43569 Vanuatu Vatu
1 Philippine Peso = 0.05672 Samoa Tala
1 Philippine Peso = 13.11394 CFA Franc (BEAC)
1 Philippine Peso = 0.05996 East Caribbean Dollar
1 Philippine Peso = 13.11394 CFA Franc (BCEAO)
1 Philippine Peso = 2.38569 Pacific Franc
1 Philippine Peso = 4.77544 Yemen Riyal
1 Philippine Peso = 0.27356 South African Rand
1 Philippine Peso = 115.23899 Zambian Kwacha
1 Philippine Peso = 8.03642 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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