April 22, 2018, 8:23 pm
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1 Philippine Peso = 0.07053 UAE Dirham
1 Philippine Peso = 1.99923 Albanian Lek
1 Philippine Peso = 0.03418 Neth Antilles Guilder
1 Philippine Peso = 0.38677 Argentine Peso
1 Philippine Peso = 0.02467 Australian Dollar
1 Philippine Peso = 0.03418 Aruba Florin
1 Philippine Peso = 0.03841 Barbados Dollar
1 Philippine Peso = 1.59228 Bangladesh Taka
1 Philippine Peso = 0.03034 Bulgarian Lev
1 Philippine Peso = 0.00724 Bahraini Dinar
1 Philippine Peso = 33.62742 Burundi Franc
1 Philippine Peso = 0.0192 Bermuda Dollar
1 Philippine Peso = 0.02503 Brunei Dollar
1 Philippine Peso = 0.13175 Bolivian Boliviano
1 Philippine Peso = 0.06526 Brazilian Real
1 Philippine Peso = 0.0192 Bahamian Dollar
1 Philippine Peso = 1.26032 Bhutan Ngultrum
1 Philippine Peso = 0.18403 Botswana Pula
1 Philippine Peso = 384.48243 Belarus Ruble
1 Philippine Peso = 0.03837 Belize Dollar
1 Philippine Peso = 0.02421 Canadian Dollar
1 Philippine Peso = 0.01858 Swiss Franc
1 Philippine Peso = 11.41406 Chilean Peso
1 Philippine Peso = 0.12052 Chinese Yuan
1 Philippine Peso = 52.12791 Colombian Peso
1 Philippine Peso = 10.7778 Costa Rica Colon
1 Philippine Peso = 0.0192 Cuban Peso
1 Philippine Peso = 1.71039 Cape Verde Escudo
1 Philippine Peso = 0.39282 Czech Koruna
1 Philippine Peso = 3.39601 Djibouti Franc
1 Philippine Peso = 0.11551 Danish Krone
1 Philippine Peso = 0.94891 Dominican Peso
1 Philippine Peso = 2.1798 Algerian Dinar
1 Philippine Peso = 0.24262 Estonian Kroon
1 Philippine Peso = 0.33916 Egyptian Pound
1 Philippine Peso = 0.52276 Ethiopian Birr
1 Philippine Peso = 0.01551 Euro
1 Philippine Peso = 0.03865 Fiji Dollar
1 Philippine Peso = 0.01348 Falkland Islands Pound
1 Philippine Peso = 0.01349 British Pound
1 Philippine Peso = 0.08525 Ghanaian Cedi
1 Philippine Peso = 0.89975 Gambian Dalasi
1 Philippine Peso = 172.80584 Guinea Franc
1 Philippine Peso = 0.14089 Guatemala Quetzal
1 Philippine Peso = 3.95007 Guyana Dollar
1 Philippine Peso = 0.15072 Hong Kong Dollar
1 Philippine Peso = 0.45249 Honduras Lempira
1 Philippine Peso = 0.11491 Croatian Kuna
1 Philippine Peso = 1.24505 Haiti Gourde
1 Philippine Peso = 4.8093 Hungarian Forint
1 Philippine Peso = 264.60534 Indonesian Rupiah
1 Philippine Peso = 0.06739 Israeli Shekel
1 Philippine Peso = 1.26727 Indian Rupee
1 Philippine Peso = 22.73862 Iraqi Dinar
1 Philippine Peso = 806.60649 Iran Rial
1 Philippine Peso = 1.91031 Iceland Krona
1 Philippine Peso = 2.37565 Jamaican Dollar
1 Philippine Peso = 0.01361 Jordanian Dinar
1 Philippine Peso = 2.06171 Japanese Yen
1 Philippine Peso = 1.92145 Kenyan Shilling
1 Philippine Peso = 1.32194 Kyrgyzstan Som
1 Philippine Peso = 76.97331 Cambodia Riel
1 Philippine Peso = 7.61206 Comoros Franc
1 Philippine Peso = 17.28442 North Korean Won
1 Philippine Peso = 20.40042 Korean Won
1 Philippine Peso = 0.00575 Kuwaiti Dinar
1 Philippine Peso = 0.01575 Cayman Islands Dollar
1 Philippine Peso = 6.25043 Kazakhstan Tenge
1 Philippine Peso = 158.93989 Lao Kip
1 Philippine Peso = 28.9034 Lebanese Pound
1 Philippine Peso = 2.99693 Sri Lanka Rupee
1 Philippine Peso = 2.50451 Liberian Dollar
1 Philippine Peso = 0.22892 Lesotho Loti
1 Philippine Peso = 0.05855 Lithuanian Lita
1 Philippine Peso = 0.01192 Latvian Lat
1 Philippine Peso = 0.02543 Libyan Dinar
1 Philippine Peso = 0.17577 Moroccan Dirham
1 Philippine Peso = 0.31452 Moldovan Leu
1 Philippine Peso = 0.94968 Macedonian Denar
1 Philippine Peso = 25.52333 Myanmar Kyat
1 Philippine Peso = 45.86134 Mongolian Tugrik
1 Philippine Peso = 0.15521 Macau Pataca
1 Philippine Peso = 6.76013 Mauritania Ougulya
1 Philippine Peso = 0.64144 Mauritius Rupee
1 Philippine Peso = 0.29902 Maldives Rufiyaa
1 Philippine Peso = 13.70175 Malawi Kwacha
1 Philippine Peso = 0.35007 Mexican Peso
1 Philippine Peso = 0.07459 Malaysian Ringgit
1 Philippine Peso = 0.22915 Namibian Dollar
1 Philippine Peso = 6.87536 Nigerian Naira
1 Philippine Peso = 0.59554 Nicaragua Cordoba
1 Philippine Peso = 0.14884 Norwegian Krone
1 Philippine Peso = 2.01652 Nepalese Rupee
1 Philippine Peso = 0.02629 New Zealand Dollar
1 Philippine Peso = 0.00739 Omani Rial
1 Philippine Peso = 0.0192 Panama Balboa
1 Philippine Peso = 0.06176 Peruvian Nuevo Sol
1 Philippine Peso = 0.06241 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.21836 Pakistani Rupee
1 Philippine Peso = 0.06459 Polish Zloty
1 Philippine Peso = 106.04187 Paraguayan Guarani
1 Philippine Peso = 0.0699 Qatar Rial
1 Philippine Peso = 0.07223 Romanian New Leu
1 Philippine Peso = 1.16816 Russian Rouble
1 Philippine Peso = 16.22066 Rwanda Franc
1 Philippine Peso = 0.07202 Saudi Arabian Riyal
1 Philippine Peso = 0.14768 Solomon Islands Dollar
1 Philippine Peso = 0.25792 Seychelles Rupee
1 Philippine Peso = 0.34667 Sudanese Pound
1 Philippine Peso = 0.161 Swedish Krona
1 Philippine Peso = 0.02513 Singapore Dollar
1 Philippine Peso = 0.01349 St Helena Pound
1 Philippine Peso = 0.42646 Slovak Koruna
1 Philippine Peso = 146.53351 Sierra Leone Leone
1 Philippine Peso = 10.79316 Somali Shilling
1 Philippine Peso = 380.06338 Sao Tome Dobra
1 Philippine Peso = 0.16804 El Salvador Colon
1 Philippine Peso = 9.89015 Syrian Pound
1 Philippine Peso = 0.22917 Swaziland Lilageni
1 Philippine Peso = 0.599 Thai Baht
1 Philippine Peso = 0.04602 Tunisian Dinar
1 Philippine Peso = 0.04292 Tongan paʻanga
1 Philippine Peso = 0.07736 Turkish Lira
1 Philippine Peso = 0.12961 Trinidad Tobago Dollar
1 Philippine Peso = 0.56365 Taiwan Dollar
1 Philippine Peso = 43.7488 Tanzanian Shilling
1 Philippine Peso = 0.50259 Ukraine Hryvnia
1 Philippine Peso = 70.84694 Ugandan Shilling
1 Philippine Peso = 0.0192 United States Dollar
1 Philippine Peso = 0.54158 Uruguayan New Peso
1 Philippine Peso = 154.65719 Uzbekistan Sum
1 Philippine Peso = 1139.831 Venezuelan Bolivar
1 Philippine Peso = 437.43038 Vietnam Dong
1 Philippine Peso = 2.00538 Vanuatu Vatu
1 Philippine Peso = 0.04922 Samoa Tala
1 Philippine Peso = 10.16881 CFA Franc (BEAC)
1 Philippine Peso = 0.05185 East Caribbean Dollar
1 Philippine Peso = 10.16881 CFA Franc (BCEAO)
1 Philippine Peso = 1.83983 Pacific Franc
1 Philippine Peso = 4.79931 Yemen Riyal
1 Philippine Peso = 0.2292 South African Rand
1 Philippine Peso = 99.66391 Zambian Kwacha
1 Philippine Peso = 6.95026 Zimbabwe dollar

Posts $662M deficit in Q3

The current account reversed to a surplus of $554 million in the third quarter of 2017 from a deficit of $30 million in the same period last year. 

The current account surplus however, was not adequate to offset the increased net outflows in the financial account, resulting in a deficit in the overall balance of payments position (BOP) in the third quarter. 

The country’s BOP position reversed to a deficit of $662 million in the third quarter, after posting a surplus of $289 million in the second quarter of the year. This quarter’s deficit was also a turnaround from the $1 billion surplus recorded in the third quarter of last year. 

Net outflows in the financial account increased to $855 million following the reversal of the portfolio investment account to net outflows which more than offset the significant improvement in net inflows of direct investments. 

Meanwhile, the current account surplus was spurred by the continued growth in exports of goods, BPO-related transactions and travel services, and personal remittances. 

Global economic conditions continued to pick up pace supported by the sustained expansion in manufacturing activity in the US, China, Japan, as well as in the Euro area, and the Asean region. 

As growth prospects remained broadly optimistic, improved external demand for the country’s exports of goods and services supported the strong performance of the current account during the quarter. 

The current account registered a surplus of $554 million in the third quarter, a reversal from the $30 million deficit recorded in last year. 

This positive outcome resulted mainly from the higher net receipts in the trade-in-services, and primary and secondary income accounts which more than compensated for the widening trade-in-goods deficit.

The trade-in-goods deficit increased to $9.5 billion from $9 billion as imports of goods expanded by $2 billion while exports of goods rose by $1.5 billion. 

Exports of goods expanded by 12.9 percent to $12.8 billion in the third quarter from $11.3 billion. 

Except for petroleum products, all major commodity groups posted increments owing to increased shipments to the country’s major trading partners, such as US, China, Hong Kong SAR, and South Korea, among others. 

Exports of manufactured goods which comprised about 78 percent of total goods exports grew by 11.8 percent, due mainly to increased exports of non-consigned electronics and machinery and transport equipment, which grew by 29.2 percent and 41.8 percent, respectively. 

Imports of goods amounted to $22.2 billion, higher by 9.6 percent than the $20.3 billion recorded last year on account of the rise in imports of raw materials and intermediate goods by 11.1 percent and mineral fuels and lubricants by 31.1 percent.

Net receipts in trade-in-services amounted to $2.8 billion, 33.9 percent higher than the $2.1 billion net receipts due mainly to higher net receipts in other business services by 24.3 percent and to lower net payments in travel services by 5.2 percent. 

The growth in other business services was boosted by technical, trade-related, and other business services, mostly business process outsourcing (BPO) related transactions. 

Export revenues in BPO services totaled $6 billion, or an increase of 11.1 percent from the $5.4 billion receipts. 

Meanwhile, the reduction in net payments of travel services resulted from the marked increase in travel exports by 62.9 percent which outpaced that of travel imports by 24.3 percent.

The primary income account posted net receipts of $714 million, higher than the $532 million net receipts last year. 

The 34.1 percent increment was due largely to the 6.9 percent growth in compensation inflows from resident overseas Filipino (OF) workers amounting to nearly $2 billion during the quarter. 

In addition, net payments of investment income were 4.2 percent lower owing to the reduction in residents’ interest payments on foreign portfolio investments, particularly on bonds held by non-residents. Interest receipts on reserve assets which rose by 16.6 percent, also contributed to the upturn in primary income net receipts.

Net receipts in the secondary income account grew by 3.1 percent to reach $6.6 billion compared to the $6.4 billion net receipts last year. 

The improvement stemmed from the 38.3 percent increment in net receipts of other current transfers along with the 2.4 percent growth in personal transfers to $6.2 billion.

The BOP position for the first nine months of 2017 yielded a deficit of $1.4 billion, a turnaround from the $1.6 billion surplus recorded in the same period in 2016. 

This development stemmed mainly from the reversal of the financial account to net outflows from net inflows a year ago. 

The net outflows in the financial account in the first nine months of 2017 was due to higher net outflows in the portfolio and other investment accounts which more than tempered the increased net inflows of direct investments. 

Meanwhile, the current account reversed to a surplus of $28 million as a result of higher net receipts recorded in the services, secondary income, and primary income accounts.
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