The Philippine peso remains competitive as its volatility and movement remains in the middle of the range in the region on account of the weakness of the US’s economy and the Euro debt crisis. Read the rest of this entry »

The peso climbed near the 41-per-dollar level Thursday on heavy trading volume of $1.5 billion, as the Philippines continued to draw foreign capital flows and remittances despite the renewed volatilities in regional stocks. Read the rest of this entry »

MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) said yesterday that the peso remains the least volatile currency in Asia amid the heightened risk aversion brought about by the weak economic growth in advanced economies led by the US and the sovereign debt crisis in Europe. Read the rest of this entry »

Local currency revisits 44:$1 for the first time in eight months on Europe’s worsening debt crisis; stocks extend slump

The peso weakened further to an eight-month low Tuesday, falling past the 44 per dollar level for the first time in eight months, on concern Europe’s worsening debt crisis will encourage overseas investors to pull out more funds. Read the rest of this entry »

MANILA, Philippines – A survey conducted by the Bangko Sentral ng Pilipinas (BSP) showed that beneficiaries of overseas Filipino workers (OFWs) are saving less in the third quarter of the year due to the continued appreciation of the peso against the dollar. Read the rest of this entry »

The International Monetary Fund had joined other multinational lenders in slashing its forecast on economic growth in the Philippines this year to 4.7 percent from an original five percent, while next year’s growth is expected at only 4.9 percent as the IMF expects the global economy slowdown to persist. Read the rest of this entry »

Banana exporters in Mindanao are worried over the rising value of the peso against the US dollar, saying it is making them less competitive in the world market. Read the rest of this entry »

Exporters are again up in arms over the surging strength of the peso and expectations that the local currency will further appreciate against the US dollar as a result of worsening problems in the American economy as they urged the Bangko Sentral ng Pilipinas (BSP) to take decisive actions to stem the the peso value. Read the rest of this entry »

MANILA, Philippines – Exporters should not worry so much that the peso is getting stronger against the dollar because since almost all other currencies have appreciated, the Philippines did not lose its competitiveness in the US market, Trade and Industry Secretary Gregory L. Domingo said. Read the rest of this entry »

The peso on Friday finished at its strongest level in more than three years, on robust inflows of foreign exchange, as investors trooped to emerging markets, encouraged by positive news coming from Greece. Read the rest of this entry »