Philippine Peso


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Philippine Peso

The currency of the Philippines. While its origins date to 1852, the modern peso came into being following the independence of the Philippines in the 1940s. It was originally pegged to silver and gold, but overprinting and hoarding of currency caused it to become a floating currency in 1964. Since independence, the government of the Philippines has consistently devalued the peso in order to reduce the nation's debt in domestic terms. This has made it a weak currency.
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References in periodicals archive ?
These in turn boosted the confidence in the Philippine peso,' the DOF said.
*The Philippine peso is set for modest weakness following a break of key technical support level at PHP45.00/USD.
It is unknowable whether or not Philippines policymakers buy into the US Fed chief's argument but if so, that would also lend support to the idea that the Philippine peso may still have some room to strengthen.
The Philippine peso closed at a record low of 55.85 to the dollar Monday over a combination of factors including the May presidential elections.
The Philippine peso touched record lows against the U.S.
The Philippine peso recovered against the US dollar Thursday but the Philippine Stock Exchange index (PSEi) weakened after a lower-than-expected growth of the domestic economy in the second quarter this year.
With UnionBank as the issuer for PHX, its value is bank-backed and guaranteed to be at parity with the Philippine peso at all times.
'Despite the double-barreled easing from the BSP, followed up by a reduction in RRR for smaller banks, the Philippine peso has continued to outperform regional peers.
Beltran said the Philippine peso strengthened by 0.73 percent in January to 52.17:$1 from 52.56 to a greenback at the end of 2018.
The continued fall of the Philippine peso is a boon to expatriates in the UAE.
The US dollar has enjoyed a good run compared to its peers, with some currencies, including the Indian rupee and Philippine peso breaching new lows against the greenback early this year.
The bank said that the collaboration would enable transfer of Philippine peso to BDO bank accounts in 60 seconds.

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