March 25, 2017, 3:51 pm
Facebook iconTwitter iconYouTube iconGoogle+ icon
1 Philippine Peso = 0.07295 UAE Dirham
1 Philippine Peso = 2.48788 Albanian Lek
1 Philippine Peso = 0.03556 Neth Antilles Guilder
1 Philippine Peso = 0.3095 Argentine Peso
1 Philippine Peso = 0.02607 Australian Dollar
1 Philippine Peso = 0.03556 Aruba Florin
1 Philippine Peso = 0.03973 Barbados Dollar
1 Philippine Peso = 1.59217 Bangladesh Taka
1 Philippine Peso = 0.03602 Bulgarian Lev
1 Philippine Peso = 0.00747 Bahraini Dinar
1 Philippine Peso = 33.62574 Burundi Franc
1 Philippine Peso = 0.01986 Bermuda Dollar
1 Philippine Peso = 0.02782 Brunei Dollar
1 Philippine Peso = 0.13667 Bolivian Boliviano
1 Philippine Peso = 0.06237 Brazilian Real
1 Philippine Peso = 0.01986 Bahamian Dollar
1 Philippine Peso = 1.30066 Bhutan Ngultrum
1 Philippine Peso = 0.20198 Botswana Pula
1 Philippine Peso = 397.69567 Belarus Ruble
1 Philippine Peso = 0.03968 Belize Dollar
1 Philippine Peso = 0.02656 Canadian Dollar
1 Philippine Peso = 0.01978 Swiss Franc
1 Philippine Peso = 13.15634 Chilean Peso
1 Philippine Peso = 0.13692 Chinese Yuan
1 Philippine Peso = 57.86254 Colombian Peso
1 Philippine Peso = 10.93802 Costa Rica Colon
1 Philippine Peso = 0.01986 Cuban Peso
1 Philippine Peso = 2.03496 Cape Verde Escudo
1 Philippine Peso = 0.49851 Czech Koruna
1 Philippine Peso = 3.5151 Djibouti Franc
1 Philippine Peso = 0.13724 Danish Krone
1 Philippine Peso = 0.93127 Dominican Peso
1 Philippine Peso = 2.1644 Algerian Dinar
1 Philippine Peso = 0.28863 Estonian Kroon
1 Philippine Peso = 0.35856 Egyptian Pound
1 Philippine Peso = 0.45093 Ethiopian Birr
1 Philippine Peso = 0.01845 Euro
1 Philippine Peso = 0.04108 Fiji Dollar
1 Philippine Peso = 0.01589 Falkland Islands Pound
1 Philippine Peso = 0.01592 British Pound
1 Philippine Peso = 0.08837 Ghanaian Cedi
1 Philippine Peso = 0.86869 Gambian Dalasi
1 Philippine Peso = 183.55185 Guinea Franc
1 Philippine Peso = 0.1458 Guatemala Quetzal
1 Philippine Peso = 4.10191 Guyana Dollar
1 Philippine Peso = 0.1543 Hong Kong Dollar
1 Philippine Peso = 0.46583 Honduras Lempira
1 Philippine Peso = 0.13612 Croatian Kuna
1 Philippine Peso = 1.34644 Haiti Gourde
1 Philippine Peso = 5.70143 Hungarian Forint
1 Philippine Peso = 264.73977 Indonesian Rupiah
1 Philippine Peso = 0.07242 Israeli Shekel
1 Philippine Peso = 1.29991 Indian Rupee
1 Philippine Peso = 23.46047 Iraqi Dinar
1 Philippine Peso = 644.02066 Iran Rial
1 Philippine Peso = 2.20501 Iceland Krona
1 Philippine Peso = 2.54927 Jamaican Dollar
1 Philippine Peso = 0.01405 Jordanian Dinar
1 Philippine Peso = 2.21154 Japanese Yen
1 Philippine Peso = 2.04112 Kenyan Shilling
1 Philippine Peso = 1.37288 Kyrgyzstan Som
1 Philippine Peso = 78.68693 Cambodia Riel
1 Philippine Peso = 9.14978 Comoros Franc
1 Philippine Peso = 17.87843 North Korean Won
1 Philippine Peso = 22.29479 Korean Won
1 Philippine Peso = 0.00604 Kuwaiti Dinar
1 Philippine Peso = 0.01629 Cayman Islands Dollar
1 Philippine Peso = 6.28526 Kazakhstan Tenge
1 Philippine Peso = 163.01152 Lao Kip
1 Philippine Peso = 29.90465 Lebanese Pound
1 Philippine Peso = 3.01549 Sri Lanka Rupee
1 Philippine Peso = 1.78784 Liberian Dollar
1 Philippine Peso = 0.24851 Lesotho Loti
1 Philippine Peso = 0.06056 Lithuanian Lita
1 Philippine Peso = 0.01233 Latvian Lat
1 Philippine Peso = 0.02811 Libyan Dinar
1 Philippine Peso = 0.19785 Moroccan Dirham
1 Philippine Peso = 0.38468 Moldovan Leu
1 Philippine Peso = 1.12515 Macedonian Denar
1 Philippine Peso = 27.19507 Myanmar Kyat
1 Philippine Peso = 48.70878 Mongolian Tugrik
1 Philippine Peso = 0.15892 Macau Pataca
1 Philippine Peso = 7.09178 Mauritania Ougulya
1 Philippine Peso = 0.69785 Mauritius Rupee
1 Philippine Peso = 0.30671 Maldives Rufiyaa
1 Philippine Peso = 14.24096 Malawi Kwacha
1 Philippine Peso = 0.3761 Mexican Peso
1 Philippine Peso = 0.08802 Malaysian Ringgit
1 Philippine Peso = 0.24708 Namibian Dollar
1 Philippine Peso = 6.25745 Nigerian Naira
1 Philippine Peso = 0.58244 Nicaragua Cordoba
1 Philippine Peso = 0.16898 Norwegian Krone
1 Philippine Peso = 2.0729 Nepalese Rupee
1 Philippine Peso = 0.02831 New Zealand Dollar
1 Philippine Peso = 0.00765 Omani Rial
1 Philippine Peso = 0.01986 Panama Balboa
1 Philippine Peso = 0.06437 Peruvian Nuevo Sol
1 Philippine Peso = 0.06286 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.08244 Pakistani Rupee
1 Philippine Peso = 0.0787 Polish Zloty
1 Philippine Peso = 111.14024 Paraguayan Guarani
1 Philippine Peso = 0.07233 Qatar Rial
1 Philippine Peso = 0.08402 Romanian New Leu
1 Philippine Peso = 1.13951 Russian Rouble
1 Philippine Peso = 16.2352 Rwanda Franc
1 Philippine Peso = 0.07449 Saudi Arabian Riyal
1 Philippine Peso = 0.15454 Solomon Islands Dollar
1 Philippine Peso = 0.26917 Seychelles Rupee
1 Philippine Peso = 0.13244 Sudanese Pound
1 Philippine Peso = 0.17566 Swedish Krona
1 Philippine Peso = 0.02783 Singapore Dollar
1 Philippine Peso = 0.0159 St Helena Pound
1 Philippine Peso = 0.44112 Slovak Koruna
1 Philippine Peso = 142.70957 Sierra Leone Leone
1 Philippine Peso = 10.90584 Somali Shilling
1 Philippine Peso = 452.14739 Sao Tome Dobra
1 Philippine Peso = 0.17327 El Salvador Colon
1 Philippine Peso = 10.23004 Syrian Pound
1 Philippine Peso = 0.24791 Swaziland Lilageni
1 Philippine Peso = 0.68872 Thai Baht
1 Philippine Peso = 0.04503 Tunisian Dinar
1 Philippine Peso = 0.04577 Tongan paʻanga
1 Philippine Peso = 0.0722 Turkish Lira
1 Philippine Peso = 0.13328 Trinidad Tobago Dollar
1 Philippine Peso = 0.60552 Taiwan Dollar
1 Philippine Peso = 44.25904 Tanzanian Shilling
1 Philippine Peso = 0.53754 Ukraine Hryvnia
1 Philippine Peso = 71.25546 Ugandan Shilling
1 Philippine Peso = 0.01986 United States Dollar
1 Philippine Peso = 0.55781 Uruguayan New Peso
1 Philippine Peso = 70.42114 Uzbekistan Sum
1 Philippine Peso = 0.19815 Venezuelan Bolivar
1 Philippine Peso = 451.90703 Vietnam Dong
1 Philippine Peso = 2.11462 Vanuatu Vatu
1 Philippine Peso = 0.05075 Samoa Tala
1 Philippine Peso = 12.09416 CFA Franc (BEAC)
1 Philippine Peso = 0.05364 East Caribbean Dollar
1 Philippine Peso = 12.176 CFA Franc (BCEAO)
1 Philippine Peso = 2.18852 Pacific Franc
1 Philippine Peso = 4.96524 Yemen Riyal
1 Philippine Peso = 0.24804 South African Rand
1 Philippine Peso = 103.08899 Zambian Kwacha
1 Philippine Peso = 7.18911 Zimbabwe dollar

Dollar under spotlight as G20 eyes FX stance overhaul

LONDON- A draft communique prepared for next week’s gathering of G20 finance chiefs has dropped the group’s standard pledges on the need for flexible yet stable exchange rates and orderly markets, suggesting it could prove a landmark event for currency markets.

The world’s most powerful finance ministers and central bankers convene in the German spa town of Baden-Baden on March 17-18, their first meeting since Donald Trump’s U.S. election victory in November and his reaffirmation of an avowedly protectionist, ‘America First’ stance on international trade.

Solid U.S. economic activity and rising inflation are pushing interest rates and the dollar higher. But the White House would clearly prefer a weaker currency to help U.S. exports, manufacturing and competitiveness on the global stage.

Figures on Tuesday showed the U.S. trade deficit in January was $48.5 billion, the widest in nearly five years.

The draft communique seen by Reuters has removed references to “excess volatility” and “disorderly” FX moves from last year’s statement, as well as a pledge to refrain from “competitive devaluations”.

It has also reintroduced - for the first time in more than 10 years - a reference to “excessive global imbalances”, an apparent swipe at hefty trade surpluses in Germany and China.

Taken together, these changes could be seen as another indication that Washington - without taking direct action or explicitly saying so - is resisting a strong dollar, which it blames for its stubborn trade deficit and manufacturing decline.

The draft communique remains subject to change. And there is unlikely to be any appetite for currency wars, so the pledge to resist “excess volatility and disorderly movements” and refrain from “competitive devaluations” could still get reinserted.

Nevertheless, if the final document bears any resemblance to its current guise, it will be a clear sign that the new White House administration is flexing its muscles on currencies and trade. (Full Story)

“The wording of G7 and G20 statements has been used to justify specific actions or to send specific warnings in the past. If the wording sets the parameters for currency policy, it is therefore significant when it changes,” said Simon Derrick, head of global rates strategy at Bank of New York Mellon.

Derrick pointed to the G7 wording on exchange rate ‘flexibility’ in Dubai, 2003, and ‘global current account imbalances’ in Boca Raton, 2004. Whatever was said at the time about what they meant, the fact is that Japan stopped intervening in FX markets to weaken the yen in 2004, he said.

G20 members are unlikely to want their own currencies to appreciate much, if at all. But the reintroduction of the phrase on “global imbalances”, at a time when trade is firmly back on the international political agenda, “is clearly intended to send a strong message”, Derrick added.

One G20 government official said the group was still debating exactly what signal it wanted to send on FX: “Whatever it is, we want to make sure it’s not misunderstood by markets.”

Since Trump’s election victory in November the White House has accused Japan, China and Germany - three of America’s five biggest trading partners - of deliberately engineering undervalued exchange rates for competitive advantage, drawing frosty responses and stirring currency market volatility.

The dollar hit a 14-year high in January and the latest Reuters poll of more than 60 FX strategists shows the bias is for further strength over the coming year.

Treasury Secretary Steve Mnuchin, who was only confirmed in his post on Feb. 13, has repeated the Treasury’s long-held mantra that a strong dollar is a “good thing” as it reflects confidence in the relative strength of the U.S. economy.

But he has warned that “certain aspects are not as positive” in the short term, and also told International Monetary Fund Managing Director Christine Lagarde he expects the IMF to provide “frank and candid” analysis of exchange rate policies.

Since G20 finance ministers and central bank governors began meeting in 1999, and then leaders in 2008, the role of exchange rates “to reduce countries’ vulnerability to economic crises” has consistently been discussed, according to the G20 Research Group at the University of Toronto.

Ernst Welteke, former president of Germany’s Bundesbank and a veteran of several G7 meetings, said that if countries want to improve their competitiveness on the international stage they should address their own problems themselves.

“The German surplus is always a concern for others, but the only way to address this is to become more competitive,” Welteke told Reuters.

“It’s not the exchange rate that’s responsible for the German trade surplus, it’s the quality of the product. What are you going to do – tell China to import less?”

On March 15, two days before the G20 meeting starts, the Federal Reserve is widely expected to hike U.S. interest rates again, a move that could further cement the dollar’s status as the currency of choice for global FX investors. – Reuters 
Rating: 
No votes yet
Twitter icon
Facebook icon
Google icon
LinkedIn icon
Pinterest icon
Reddit icon
Yahoo! icon
e-mail icon

Column of the Day

Duterte immobilized

By DODY LACUNA | March 24,2017
422 View(s) 0 Comment(s)
‘He should deter the AIDS outbreak victimizing the youth whom he has pledged to protect always.’

Opinion of the Day

Reviving Laguna de Bae

By DAHLI ASPILLERA | March 24, 2017
486 View(s) 0 Comment(s)
‘Depleted by hectares of illegal fishpens. Out on a banca all-night, or a fishing pole in the water all day–no yield.’