May 27, 2017, 2:00 pm
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1 Philippine Peso = 0.07372 UAE Dirham
1 Philippine Peso = 2.41289 Albanian Lek
1 Philippine Peso = 0.03568 Neth Antilles Guilder
1 Philippine Peso = 0.32234 Argentine Peso
1 Philippine Peso = 0.02694 Australian Dollar
1 Philippine Peso = 0.03594 Aruba Florin
1 Philippine Peso = 0.04014 Barbados Dollar
1 Philippine Peso = 1.61883 Bangladesh Taka
1 Philippine Peso = 0.03501 Bulgarian Lev
1 Philippine Peso = 0.00757 Bahraini Dinar
1 Philippine Peso = 34.21016 Burundi Franc
1 Philippine Peso = 0.02007 Bermuda Dollar
1 Philippine Peso = 0.02775 Brunei Dollar
1 Philippine Peso = 0.1385 Bolivian Boliviano
1 Philippine Peso = 0.06559 Brazilian Real
1 Philippine Peso = 0.02007 Bahamian Dollar
1 Philippine Peso = 1.29566 Bhutan Ngultrum
1 Philippine Peso = 0.20514 Botswana Pula
1 Philippine Peso = 401.84665 Belarus Ruble
1 Philippine Peso = 0.0401 Belize Dollar
1 Philippine Peso = 0.02701 Canadian Dollar
1 Philippine Peso = 0.01958 Swiss Franc
1 Philippine Peso = 13.41871 Chilean Peso
1 Philippine Peso = 0.13757 Chinese Yuan
1 Philippine Peso = 58.49057 Colombian Peso
1 Philippine Peso = 11.65616 Costa Rica Colon
1 Philippine Peso = 0.02007 Cuban Peso
1 Philippine Peso = 1.98153 Cape Verde Escudo
1 Philippine Peso = 0.47496 Czech Koruna
1 Philippine Peso = 3.56443 Djibouti Franc
1 Philippine Peso = 0.13368 Danish Krone
1 Philippine Peso = 0.94018 Dominican Peso
1 Philippine Peso = 2.17375 Algerian Dinar
1 Philippine Peso = 0.28102 Estonian Kroon
1 Philippine Peso = 0.3623 Egyptian Pound
1 Philippine Peso = 0.45965 Ethiopian Birr
1 Philippine Peso = 0.01796 Euro
1 Philippine Peso = 0.04169 Fiji Dollar
1 Philippine Peso = 0.01563 Falkland Islands Pound
1 Philippine Peso = 0.01565 British Pound
1 Philippine Peso = 0.08608 Ghanaian Cedi
1 Philippine Peso = 0.90225 Gambian Dalasi
1 Philippine Peso = 182.35648 Guinea Franc
1 Philippine Peso = 0.14716 Guatemala Quetzal
1 Philippine Peso = 4.09595 Guyana Dollar
1 Philippine Peso = 0.15642 Hong Kong Dollar
1 Philippine Peso = 0.46989 Honduras Lempira
1 Philippine Peso = 0.13267 Croatian Kuna
1 Philippine Peso = 1.33601 Haiti Gourde
1 Philippine Peso = 5.51927 Hungarian Forint
1 Philippine Peso = 267.16178 Indonesian Rupiah
1 Philippine Peso = 0.0717 Israeli Shekel
1 Philippine Peso = 1.29566 Indian Rupee
1 Philippine Peso = 23.70534 Iraqi Dinar
1 Philippine Peso = 651.18426 Iran Rial
1 Philippine Peso = 2.00763 Iceland Krona
1 Philippine Peso = 2.60177 Jamaican Dollar
1 Philippine Peso = 0.01422 Jordanian Dinar
1 Philippine Peso = 2.23294 Japanese Yen
1 Philippine Peso = 2.06945 Kenyan Shilling
1 Philippine Peso = 1.36341 Kyrgyzstan Som
1 Philippine Peso = 81.17021 Cambodia Riel
1 Philippine Peso = 9.03573 Comoros Franc
1 Philippine Peso = 18.06503 North Korean Won
1 Philippine Peso = 22.47491 Korean Won
1 Philippine Peso = 0.00608 Kuwaiti Dinar
1 Philippine Peso = 0.01646 Cayman Islands Dollar
1 Philippine Peso = 6.21999 Kazakhstan Tenge
1 Philippine Peso = 164.1108 Lao Kip
1 Philippine Peso = 30.22079 Lebanese Pound
1 Philippine Peso = 3.06604 Sri Lanka Rupee
1 Philippine Peso = 1.82658 Liberian Dollar
1 Philippine Peso = 0.25943 Lesotho Loti
1 Philippine Peso = 0.06119 Lithuanian Lita
1 Philippine Peso = 0.01246 Latvian Lat
1 Philippine Peso = 0.02797 Libyan Dinar
1 Philippine Peso = 0.19607 Moroccan Dirham
1 Philippine Peso = 0.36395 Moldovan Leu
1 Philippine Peso = 1.10036 Macedonian Denar
1 Philippine Peso = 27.19791 Myanmar Kyat
1 Philippine Peso = 48.1935 Mongolian Tugrik
1 Philippine Peso = 0.16111 Macau Pataca
1 Philippine Peso = 7.18587 Mauritania Ougulya
1 Philippine Peso = 0.6951 Mauritius Rupee
1 Philippine Peso = 0.31052 Maldives Rufiyaa
1 Philippine Peso = 14.40426 Malawi Kwacha
1 Philippine Peso = 0.37051 Mexican Peso
1 Philippine Peso = 0.08565 Malaysian Ringgit
1 Philippine Peso = 0.25809 Namibian Dollar
1 Philippine Peso = 6.4432 Nigerian Naira
1 Philippine Peso = 0.6002 Nicaragua Cordoba
1 Philippine Peso = 0.16848 Norwegian Krone
1 Philippine Peso = 2.07648 Nepalese Rupee
1 Philippine Peso = 0.02843 New Zealand Dollar
1 Philippine Peso = 0.00773 Omani Rial
1 Philippine Peso = 0.02007 Panama Balboa
1 Philippine Peso = 0.06543 Peruvian Nuevo Sol
1 Philippine Peso = 0.06377 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.10277 Pakistani Rupee
1 Philippine Peso = 0.0752 Polish Zloty
1 Philippine Peso = 111.54155 Paraguayan Guarani
1 Philippine Peso = 0.07308 Qatar Rial
1 Philippine Peso = 0.08182 Romanian New Leu
1 Philippine Peso = 1.13952 Russian Rouble
1 Philippine Peso = 16.44902 Rwanda Franc
1 Philippine Peso = 0.07527 Saudi Arabian Riyal
1 Philippine Peso = 0.15837 Solomon Islands Dollar
1 Philippine Peso = 0.26825 Seychelles Rupee
1 Philippine Peso = 0.13368 Sudanese Pound
1 Philippine Peso = 0.17472 Swedish Krona
1 Philippine Peso = 0.02777 Singapore Dollar
1 Philippine Peso = 0.01563 St Helena Pound
1 Philippine Peso = 0.44572 Slovak Koruna
1 Philippine Peso = 150.54195 Sierra Leone Leone
1 Philippine Peso = 11.01967 Somali Shilling
1 Philippine Peso = 440.26096 Sao Tome Dobra
1 Philippine Peso = 0.17507 El Salvador Colon
1 Philippine Peso = 10.33681 Syrian Pound
1 Philippine Peso = 0.25802 Swaziland Lilageni
1 Philippine Peso = 0.68306 Thai Baht
1 Philippine Peso = 0.04816 Tunisian Dinar
1 Philippine Peso = 0.04615 Tongan paʻanga
1 Philippine Peso = 0.07172 Turkish Lira
1 Philippine Peso = 0.13487 Trinidad Tobago Dollar
1 Philippine Peso = 0.60472 Taiwan Dollar
1 Philippine Peso = 44.74107 Tanzanian Shilling
1 Philippine Peso = 0.5289 Ukraine Hryvnia
1 Philippine Peso = 72.26014 Ugandan Shilling
1 Philippine Peso = 0.02007 United States Dollar
1 Philippine Peso = 0.56624 Uruguayan New Peso
1 Philippine Peso = 76.29466 Uzbekistan Sum
1 Philippine Peso = 0.20022 Venezuelan Bolivar
1 Philippine Peso = 456.12204 Vietnam Dong
1 Philippine Peso = 2.15295 Vanuatu Vatu
1 Philippine Peso = 0.05162 Samoa Tala
1 Philippine Peso = 11.77599 CFA Franc (BEAC)
1 Philippine Peso = 0.0542 East Caribbean Dollar
1 Philippine Peso = 11.81574 CFA Franc (BCEAO)
1 Philippine Peso = 2.13228 Pacific Franc
1 Philippine Peso = 5.01706 Yemen Riyal
1 Philippine Peso = 0.25808 South African Rand
1 Philippine Peso = 104.16499 Zambian Kwacha
1 Philippine Peso = 7.26415 Zimbabwe dollar

Investment banks ditch the diet and look to expand

LONDON - After several years of restructuring and regulatory pressure, investment banks have reached a turning point after Donald Trump became American president and can look to grow again, according to a study published on Friday.

“The world has turned upside down post the U.S. elections,” said the joint annual study by Morgan Stanley and management consultants Oliver Wyman.

“This is the first year since we’ve been producing this paper that we’re looking to see a significant shift to the positive in terms of revenue growth, operational leverage and return on equity,” said Magdalena Stoklosa, head of European financials research at Morgan Stanley.

Globally, investment banks have been on an “intensive diet” since 2011 and have shrunk their balance sheets on aggregate by a third, according to the analysis produced in the 7th edition of the “Blue Paper”.

With the global economy appearing to be on a stable footing, the Federal Reserve raising interest rates and political rhetoric pointing to a pause on new banking regulation, growth beckons for an industry reshaped by the global financial crisis.

In three years’ time, return on equity could reach 13 to 14 percent across the industry from 10 to 11 percent currently, the study said.

Regulatory costs are expected to peak in 2017 and decline by as much as 40 percent by the end of 2020.

However, European banks, lagging in their restructuring programmes, are expected to continue to underperform their rivals on the other side of the Atlantic.

U.S. banks could see return on equity rising to 15 percent from 11 percent currently, from a combination of revenue growth and removing costs over the next three years.

European banks are forecast to improve their return on equity to 11.5 percent from 7.5 percent currently, with 75 percent of that uptick driven by cost cutting and only 25 percent by revenue growth.

U.S. banks are sitting on $83 billion of excess capital, which could be used to invest in profitable business lines or paid out in share buybacks or dividends, whilst European banks have a mere $1 billion of excess capital to play with.

Fixed income, currencies and commodities revenues, which faced the brunt of regulation, are forecast to grow 2 percent over the next five years to $119 billion after shrinking to $109 billion from $140 billion over the previous five.

“Unlocking excess capital and collateral turns secular headwinds to tailwinds, powering a sustainable inflection in the global FICC pool for the first time in a decade,” the study said.

“Our bull case “Dares to Dream”. If the US administration’s tax reform, fiscal stimulus, and deregulation agenda is achieved, we would expect much stronger revenue growth and more capital release,” the study said. – Reuters 
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