May 28, 2018, 5:43 am
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1 Philippine Peso = 0.06987 UAE Dirham
1 Philippine Peso = 2.04394 Albanian Lek
1 Philippine Peso = 0.03405 Neth Antilles Guilder
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1 Philippine Peso = 0.02507 Australian Dollar
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1 Philippine Peso = 0.06941 Brazilian Real
1 Philippine Peso = 0.01902 Bahamian Dollar
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1 Philippine Peso = 2.20987 Algerian Dinar
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1 Philippine Peso = 0.01623 Euro
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1 Philippine Peso = 0.01422 Falkland Islands Pound
1 Philippine Peso = 0.01425 British Pound
1 Philippine Peso = 0.08823 Ghanaian Cedi
1 Philippine Peso = 0.89024 Gambian Dalasi
1 Philippine Peso = 171.23835 Guinea Franc
1 Philippine Peso = 0.13955 Guatemala Quetzal
1 Philippine Peso = 3.93875 Guyana Dollar
1 Philippine Peso = 0.14924 Hong Kong Dollar
1 Philippine Peso = 0.45305 Honduras Lempira
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1 Philippine Peso = 20.46376 Korean Won
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1 Philippine Peso = 0.31929 Moldovan Leu
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1 Philippine Peso = 25.77516 Myanmar Kyat
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1 Philippine Peso = 6.73388 Mauritania Ougulya
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1 Philippine Peso = 0.15404 Norwegian Krone
1 Philippine Peso = 2.06962 Nepalese Rupee
1 Philippine Peso = 0.02745 New Zealand Dollar
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1 Philippine Peso = 0.0621 Peruvian Nuevo Sol
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1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.19897 Pakistani Rupee
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1 Philippine Peso = 108.10348 Paraguayan Guarani
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1 Philippine Peso = 0.0751 Romanian New Leu
1 Philippine Peso = 1.17631 Russian Rouble
1 Philippine Peso = 16.13468 Rwanda Franc
1 Philippine Peso = 0.07134 Saudi Arabian Riyal
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1 Philippine Peso = 0.25547 Seychelles Rupee
1 Philippine Peso = 0.34155 Sudanese Pound
1 Philippine Peso = 0.16566 Swedish Krona
1 Philippine Peso = 0.02546 Singapore Dollar
1 Philippine Peso = 0.01422 St Helena Pound
1 Philippine Peso = 0.42241 Slovak Koruna
1 Philippine Peso = 149.32471 Sierra Leone Leone
1 Philippine Peso = 10.69051 Somali Shilling
1 Philippine Peso = 397.78391 Sao Tome Dobra
1 Philippine Peso = 0.16644 El Salvador Colon
1 Philippine Peso = 9.79608 Syrian Pound
1 Philippine Peso = 0.23678 Swaziland Lilageni
1 Philippine Peso = 0.60662 Thai Baht
1 Philippine Peso = 0.0483 Tunisian Dinar
1 Philippine Peso = 0.04363 Tongan paʻanga
1 Philippine Peso = 0.08961 Turkish Lira
1 Philippine Peso = 0.1286 Trinidad Tobago Dollar
1 Philippine Peso = 0.56886 Taiwan Dollar
1 Philippine Peso = 43.27563 Tanzanian Shilling
1 Philippine Peso = 0.49705 Ukraine Hryvnia
1 Philippine Peso = 71.0291 Ugandan Shilling
1 Philippine Peso = 0.01902 United States Dollar
1 Philippine Peso = 0.5933 Uruguayan New Peso
1 Philippine Peso = 151.83565 Uzbekistan Sum
1 Philippine Peso = 1494.25528 Venezuelan Bolivar
1 Philippine Peso = 433.30797 Vietnam Dong
1 Philippine Peso = 2.03595 Vanuatu Vatu
1 Philippine Peso = 0.04914 Samoa Tala
1 Philippine Peso = 10.63667 CFA Franc (BEAC)
1 Philippine Peso = 0.05136 East Caribbean Dollar
1 Philippine Peso = 10.63667 CFA Franc (BCEAO)
1 Philippine Peso = 1.926 Pacific Franc
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Fed chair vague on trade risks

SANTA ROSA, Calif./CHICAGO- Federal Reserve Chairman Jerome Powell and the incoming chief of the New York Fed on Friday stuck closely to a unified script on the economic outlook, in separate appearances sketching a picture of gradual interest-rate hikes ahead.

But as global stocks fell on jitters over escalating US-China trade tensions, Powell merely said it was too soon to know if the trade issue would take a toll on the US economy, which has been steadily strengthening.

For his part, San Francisco Fed President John Williams, whose appointment to head the Fed’s New York branch means he will also be vice chair of the Fed’s policy-setting committee and a permanent voter on the committee, did not mince words.

Williams said that although the rhetoric on tariffs so far has been more extreme than the actions taken, he loses sleep over the prospect of an actual trade war, which he warned could result in slower growth, an inflationary spike and lower productivity.

“My concern here is not who loses more or what happens specifically. It’s that if this path goes to one where all of us are pulling away from being open, I think those implications are negative,” Williams told reporters, after a speech here. Still, he said, “I haven’t seen that kind of change yet.”

The remarks by the two came as the United States and China exchanged new threats on the trade front. China warned on Friday it was fully prepared to respond with a “fierce counter strike” of fresh measures if the United States follows through on President Donald Trump’s threat to slap tariffs on an additional $100 billion of Chinese goods. 

Williams downplayed the leverage that some believe China’s vast holdings of US debt give it in trade negotiations, saying he believes it is unlikely China would dump US Treasuries and would do itself great damage if it did.

China as of the end of January held around $1.7 trillion of Treasuries, making it the No. 2 overall owner of US government bonds after the Federal Reserve. 

But Williams said some sectors of the US economy, such as farming, are particularly vulnerable if proposed tariffs on crops like soybeans go into effect. Soybeans are the top US agricultural export to China.

“It’s definitely something we are paying close attention to,” he said. “The global economy is built on trading with each other, and if we were to try to unwind all of that it would be extremely disruptive and very costly, both for the US and the world.”

Powell, in his first speech on the economic outlook since assuming the helm at the US central bank in early February, said the labor market appeared close to full employment and that inflation was poised to rise toward the Fed’s 2 percent objective in the coming months.

“As long as the economy continues broadly on its current path, further gradual increases in the federal funds rate will best promote these goals,” Powell said at an event in Chicago.

Powell said the risks to the US economic outlook appeared “roughly balanced.”

Earlier on Friday the Labor Department reported the unemployment rate held steady at 4.1 percent for a sixth straight month in March as 103,000 jobs were created, the lowest amount in six months. 

The Fed has been slowly raising interest rates since 2015, most recently in March when policymakers signaled they expected to increase borrowing costs two or three more times in 2018. Prices for interest rate futures have suggested that investors expect the Fed to do just that.

Williams’ comments on the economy were similarly rosy, and he suggested he supports continued gradual rate hikes through 2020, by which time rates should be around 3.5 percent. – Reuters 
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