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.
References in periodicals archive ?
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.
AoWe have revised our forecast for the Philippine peso to average PHP44.
On average for the first quarter of 2008, the Philippine Peso appreciated 16% against the U.
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.
MANILA-- The Philippine peso recovered against the greenback Friday due to consolidation after several days of depreciation.
Manila: Exporters and families of overseas Filipino workers (OFWs) were overjoyed with the strengthening of the US dollar and the consequent weakening of the Philippine peso, sources said.
AoThe Philippine peso should stay largely resilient despite USD strength.
The Philippine peso dropped to the lowest level in a month as comments by Federal Reserve officials fueled speculation the US will pare monetary stimulus.
The Philippine peso, meanwhile, ended the trading session on the Philippine Dealing System at 43.
I am pleased to report that our Board of Directors has authorized the Company to sell the land we purchased in Manila for a substantial gain and to sell our existing Philippine Peso foreign currency forward contracts.
27, the Philippine peso depreciated against the US dollar by 4.
87 percent against the dollar, while the Thai baht, Taiwan dollar and Philippine peso also weakened.

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