February 20, 2018, 8:55 am
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1 Philippine Peso = 0.07035 UAE Dirham
1 Philippine Peso = 2.03736 Albanian Lek
1 Philippine Peso = 0.0341 Neth Antilles Guilder
1 Philippine Peso = 0.37852 Argentine Peso
1 Philippine Peso = 0.02417 Australian Dollar
1 Philippine Peso = 0.0341 Aruba Florin
1 Philippine Peso = 0.03831 Barbados Dollar
1 Philippine Peso = 1.58755 Bangladesh Taka
1 Philippine Peso = 0.03006 Bulgarian Lev
1 Philippine Peso = 0.00722 Bahraini Dinar
1 Philippine Peso = 33.54368 Burundi Franc
1 Philippine Peso = 0.01916 Bermuda Dollar
1 Philippine Peso = 0.02532 Brunei Dollar
1 Philippine Peso = 0.13142 Bolivian Boliviano
1 Philippine Peso = 0.06189 Brazilian Real
1 Philippine Peso = 0.01916 Bahamian Dollar
1 Philippine Peso = 1.22893 Bhutan Ngultrum
1 Philippine Peso = 0.18046 Botswana Pula
1 Philippine Peso = 383.5249 Belarus Ruble
1 Philippine Peso = 0.03827 Belize Dollar
1 Philippine Peso = 0.02404 Canadian Dollar
1 Philippine Peso = 0.01774 Swiss Franc
1 Philippine Peso = 11.3659 Chilean Peso
1 Philippine Peso = 0.12153 Chinese Yuan
1 Philippine Peso = 54.27203 Colombian Peso
1 Philippine Peso = 10.83966 Costa Rica Colon
1 Philippine Peso = 0.01916 Cuban Peso
1 Philippine Peso = 1.70268 Cape Verde Escudo
1 Philippine Peso = 0.39128 Czech Koruna
1 Philippine Peso = 3.38755 Djibouti Franc
1 Philippine Peso = 0.115 Danish Krone
1 Philippine Peso = 0.93544 Dominican Peso
1 Philippine Peso = 2.16856 Algerian Dinar
1 Philippine Peso = 0.24138 Estonian Kroon
1 Philippine Peso = 0.33716 Egyptian Pound
1 Philippine Peso = 0.52165 Ethiopian Birr
1 Philippine Peso = 0.01543 Euro
1 Philippine Peso = 0.03813 Fiji Dollar
1 Philippine Peso = 0.01366 Falkland Islands Pound
1 Philippine Peso = 0.01366 British Pound
1 Philippine Peso = 0.08656 Ghanaian Cedi
1 Philippine Peso = 0.89866 Gambian Dalasi
1 Philippine Peso = 172.37548 Guinea Franc
1 Philippine Peso = 0.14054 Guatemala Quetzal
1 Philippine Peso = 3.9364 Guyana Dollar
1 Philippine Peso = 0.14982 Hong Kong Dollar
1 Philippine Peso = 0.45019 Honduras Lempira
1 Philippine Peso = 0.11447 Croatian Kuna
1 Philippine Peso = 1.21437 Haiti Gourde
1 Philippine Peso = 4.80326 Hungarian Forint
1 Philippine Peso = 259.67432 Indonesian Rupiah
1 Philippine Peso = 0.06787 Israeli Shekel
1 Philippine Peso = 1.23063 Indian Rupee
1 Philippine Peso = 22.68199 Iraqi Dinar
1 Philippine Peso = 709.84673 Iran Rial
1 Philippine Peso = 1.91667 Iceland Krona
1 Philippine Peso = 2.39444 Jamaican Dollar
1 Philippine Peso = 0.01355 Jordanian Dinar
1 Philippine Peso = 2.03307 Japanese Yen
1 Philippine Peso = 1.93774 Kenyan Shilling
1 Philippine Peso = 1.30544 Kyrgyzstan Som
1 Philippine Peso = 76.53257 Cambodia Riel
1 Philippine Peso = 7.57567 Comoros Franc
1 Philippine Peso = 17.24138 North Korean Won
1 Philippine Peso = 20.41552 Korean Won
1 Philippine Peso = 0.00573 Kuwaiti Dinar
1 Philippine Peso = 0.01571 Cayman Islands Dollar
1 Philippine Peso = 6.12088 Kazakhstan Tenge
1 Philippine Peso = 158.62069 Lao Kip
1 Philippine Peso = 28.83908 Lebanese Pound
1 Philippine Peso = 2.97165 Sri Lanka Rupee
1 Philippine Peso = 2.44272 Liberian Dollar
1 Philippine Peso = 0.22308 Lesotho Loti
1 Philippine Peso = 0.0584 Lithuanian Lita
1 Philippine Peso = 0.01189 Latvian Lat
1 Philippine Peso = 0.02534 Libyan Dinar
1 Philippine Peso = 0.17539 Moroccan Dirham
1 Philippine Peso = 0.31734 Moldovan Leu
1 Philippine Peso = 0.9454 Macedonian Denar
1 Philippine Peso = 25.42146 Myanmar Kyat
1 Philippine Peso = 45.82375 Mongolian Tugrik
1 Philippine Peso = 0.15425 Macau Pataca
1 Philippine Peso = 6.68582 Mauritania Ougulya
1 Philippine Peso = 0.61303 Mauritius Rupee
1 Philippine Peso = 0.29828 Maldives Rufiyaa
1 Philippine Peso = 13.66743 Malawi Kwacha
1 Philippine Peso = 0.35467 Mexican Peso
1 Philippine Peso = 0.07454 Malaysian Ringgit
1 Philippine Peso = 0.22274 Namibian Dollar
1 Philippine Peso = 6.87739 Nigerian Naira
1 Philippine Peso = 0.59195 Nicaragua Cordoba
1 Philippine Peso = 0.14901 Norwegian Krone
1 Philippine Peso = 1.96697 Nepalese Rupee
1 Philippine Peso = 0.02593 New Zealand Dollar
1 Philippine Peso = 0.00737 Omani Rial
1 Philippine Peso = 0.01916 Panama Balboa
1 Philippine Peso = 0.06225 Peruvian Nuevo Sol
1 Philippine Peso = 0.06025 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.11398 Pakistani Rupee
1 Philippine Peso = 0.0642 Polish Zloty
1 Philippine Peso = 106.68774 Paraguayan Guarani
1 Philippine Peso = 0.06973 Qatar Rial
1 Philippine Peso = 0.07198 Romanian New Leu
1 Philippine Peso = 1.08044 Russian Rouble
1 Philippine Peso = 16.10153 Rwanda Franc
1 Philippine Peso = 0.07184 Saudi Arabian Riyal
1 Philippine Peso = 0.14875 Solomon Islands Dollar
1 Philippine Peso = 0.25546 Seychelles Rupee
1 Philippine Peso = 0.34393 Sudanese Pound
1 Philippine Peso = 0.15255 Swedish Krona
1 Philippine Peso = 0.02511 Singapore Dollar
1 Philippine Peso = 0.01367 St Helena Pound
1 Philippine Peso = 0.4254 Slovak Koruna
1 Philippine Peso = 146.16858 Sierra Leone Leone
1 Philippine Peso = 10.76628 Somali Shilling
1 Philippine Peso = 378.35439 Sao Tome Dobra
1 Philippine Peso = 0.16762 El Salvador Colon
1 Philippine Peso = 9.86552 Syrian Pound
1 Philippine Peso = 0.22276 Swaziland Lilageni
1 Philippine Peso = 0.59923 Thai Baht
1 Philippine Peso = 0.04546 Tunisian Dinar
1 Philippine Peso = 0.04238 Tongan paʻanga
1 Philippine Peso = 0.07167 Turkish Lira
1 Philippine Peso = 0.12904 Trinidad Tobago Dollar
1 Philippine Peso = 0.55669 Taiwan Dollar
1 Philippine Peso = 43.02682 Tanzanian Shilling
1 Philippine Peso = 0.51715 Ukraine Hryvnia
1 Philippine Peso = 69.38697 Ugandan Shilling
1 Philippine Peso = 0.01916 United States Dollar
1 Philippine Peso = 0.54521 Uruguayan New Peso
1 Philippine Peso = 156.47509 Uzbekistan Sum
1 Philippine Peso = 477.73945 Venezuelan Bolivar
1 Philippine Peso = 434.75095 Vietnam Dong
1 Philippine Peso = 2.01916 Vanuatu Vatu
1 Philippine Peso = 0.04802 Samoa Tala
1 Philippine Peso = 10.11303 CFA Franc (BEAC)
1 Philippine Peso = 0.05172 East Caribbean Dollar
1 Philippine Peso = 10.11303 CFA Franc (BCEAO)
1 Philippine Peso = 1.81628 Pacific Franc
1 Philippine Peso = 4.78831 Yemen Riyal
1 Philippine Peso = 0.22279 South African Rand
1 Philippine Peso = 99.41571 Zambian Kwacha
1 Philippine Peso = 6.93295 Zimbabwe dollar

Business confidence outlook rises

Business outlook on the economy turned more upbeat for Q4 2017, with the overall confidence index (CI) rising to 43.3 percent from 37.9 percent for Q3 2017, the Bangko Sentral ng Pilipinas said.

This means that the number of optimists increased and continued to be greater than the number of pessimists during the quarter. 

This quarter’s confidence level is also higher compared to its year-ago level. 

Respondents cited the following factors behind their more buoyant outlook during the fourth quarter: (a) expected increase  in orders and consumer purchases during the Christmas holidays, (b) increasing number and expansion of businesses, (c) higher disbursements for the government’s infrastructure and other development projects, (d) favorable macroeconomic conditions in the country, particularly manageable inflation and low interest rates, and (e) expansion of export markets and stronger demand for Philippine products.

BSP said the sentiment of businesses in the Philippines mirrored the more bullish business outlook in Australia, Canada, Germany, and Indonesia, but was in contrast to the less favorable views of those in the US, UK, Hong Kong, South Korea, New Zealand and Thailand, and steady outlook in France.

For the quarter ahead (Q1 2018), business outlook turned less optimistic, with the next quarter CI declining to 39.7 percent from 51.3 percent in the previous quarter’s survey results. Respondents attributed their less positive outlook mainly to the usual slowdown of demand after the holiday season. 

Other reasons cited by firms were lag in business transactions at the beginning of the year (e.g., delay in renewal of contracts and drydock season for the shipping industry), stiffer business competition, concerns on the effect of the new excise tax rates to the automobile industry, and higher inflation.

The sentiment of businesses across trading types was mixed for Q4 2017. 

Among business types, exporters were the most bullish, maintaining a record-high confidence level for the second consecutive quarter (at 50 percent). Likewise, domestic-oriented firms as well as importers were more optimistic. 

However, the outlook of  dual-activity firms was less upbeat. For the quarter ahead (Q1 2018), the sentiment across different types of businesses was less optimistic.

Business sentiment across sectors was also mixed for Q4 2017. 

Business confidence was highest in the services sector, followed by wholesale and retail trade while those in the industry and construction sectors were less favorable. 

Firms’ sentiment across sectors was less optimistic for Q1 2018 due largely to the usual slack in demand after the holiday season, except that for the construction sector which turned bullish.

Sentiment was high across the services sub-sectors, with hotels and restaurants posting the highest confidence index, reaching a two-year record-high at 73 percent. 

The positive sentiment of the wholesale and retail trade firms was driven by expectations of generally more robust demand during Christmas and main harvest seasons. 

Meanwhile, in the industry sector, the pessimism of firms in the manufacturing and mining and quarrying   sub-sectors outweighed the more optimistic outlook of firms in the agriculture, fishery and forestry, and electricity, gas and water supply sub-sectors. 

Likewise, construction firms’ outlook for the current quarter was less favorable as firms take their cue from the government’s rollout of infrastructure projects.

The outlook of firms about their own business operations improved for Q4 2017 compared to that a quarter ago. 

The sectoral outlook of firms on the volume of business activity and total orders booked was consistent with those at the national level—more bullish for the services and wholesale and retail trade sectors but less upbeat for industry and construction.  

The employment outlook index for the next quarter declined to 24.7 percent from 27.3 percent in the last quarter’s survey.  

This indicates that more firms will continue to hire new employees than those that indicated otherwise even as the number of firms with hiring intentions declined relative to a quarter ago.

The percentage of businesses with expansion plans in the industry sector for Q1 2018 decreased to 31.1 percent from 32.8 percent in the previous quarter. 

Meanwhile, the average capacity utilization (in the industry and construction sectors) for Q4 2017 was slightly lower at 76 percent (from 76.7 percent in Q3 2017).

The financial conditions index remained in negative territory at -0.9 percent for Q4 2017 from -1 percent in the previous quarter. 

This means that firms that expected tighter financial conditions continued to outnumber those that said otherwise. 

However, firms were of the view that their financing requirements could be met through available credit as respondents reported easy access to credit.

The survey results showed that businesses anticipated inflation to increase but to remain within target, peso to depreciate, and interest rates to go up for the current and next quarters. 

Respondents who expected inflation to go up continued to outnumber those that held the opposite view for the current and next quarters. 

The number of respondents with views of higher inflation increased for Q4 2017 but declined for Q1 2018 relative to the previous quarter’s survey results. 

Businesses anticipated the rate of increase in commodity prices to stay within the government’s 2 to 4 percent inflation target range for 2017 and 2018, at 3.1 percent for Q4 2017 and   3.2 percent for Q1 2018.

Respondents also anticipated the peso to depreciate for Q4 2017 and Q1 2018. Meanwhile, the percentage of respondents that expected higher interest rates increased compared to those in the previous quarter’s survey.

The Q4 2017 BES was conducted during the period 2 October - 20 November 2017. 

There were 1,473 firms surveyed nationwide. The survey response rate for this quarter was higher at 84.0 percent from 83.6 percent in the previous quarter. 
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