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By Fran BLANDY BUENOS AIRES, Dec 13, 2023 (AFP) – Argentina devalued its currency by more than 50 percent Tuesday in a set of “shock” measures aimed at reviving a crumbling economy and tackling triple-digit inflation. The government of President Javier Milei, a libertarian who swept from obscurity to the top office vowing to chainsaw spending, also announced cuts to generous state subsidies and a halt to all new public construction projects. In a pre-recorded […]
Third straight day that peso hit new record lows (Eagle News) – The Philippine peso sank to a new record low of P58.49 to a US dollar on Thursday, September 22, the third straight day that the peso had gone down to record lows. On Wednesday, Sept. 21, the peso went down to P58 to a dollar, and the previous day, Tuesday (Sept. 20), it closed at P57.48. This came about as the US […]
(Eagle News) – The Philippine peso plunged to a new record low against the US dollar at P57.43 on Friday, September 16. The previous lowest closing of the peso was recorded on Sept. 8 when the peso went down to P57.18 to a US dollar. According to data from the Bankers’ Association of the Philippines (BAP), intraday trading saw the peso even going as low as P57.44 against the dollar. It settled at P57.43 […]
New P1,000 polymer banknotes to be released in phases starting April 18 (Eagle News) – The Philippines has a new P1,000 polymer banknote which has more security features and more durable than the usual paper banknotes. The new P1,000 polymer banknote was presented to President Rodrigo Duterte on Wednesday, April 6, by Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno and Monetary Board members in a ceremony held in Malacanang. He received the 1000-Peso […]
HONG KONG, China (AFP) — Asian markets turned lower Friday as investors took their foot off the pedal at the end of a broadly positive week, while the dollar strengthened after the Federal Reserve flagged more interest rate hikes down the line. Energy firms were among the biggest losers as oil prices fell into a bear market after dropping 20 percent from their recent highs. The US midterms provided a much-needed fillip to equities as […]
(Eagle News) — The Philippine peso dropped to its lowest value in almost 13 years as it breached the P54 to a dollar on Wednesday, Sept. 12, settling at P54.13 after the day’s trading session. This as the country’s trade deficit further widened to $22.49 billion at the end of the first seven months. The P54.13 to a dollar was only less than almost three centavos lower than the record low of P54.155 set on […]
HONG KONG, China (AFP) — Asian markets enjoyed broad gains for a third day on Wednesday but investors moved more cautiously as they took stock of the latest trade developments and looked to possible headwinds. New York provided another record lead on lingering optimism after the United States and Mexico agreed on a revised free-trade deal and Canada began talks that could see them join. However, while the news was seen as a much-needed boost […]
HONG KONG, China (AFP) — Asian markets headed into the weekend on a positive note Friday, with Tokyo again propelled by the weaker yen but the dollar edged back slightly in the afternoon following its recent surge against global currencies. With traders confident the Federal Reserve will hike interest rates before year-end, the dollar is cruising along, hitting record highs against India’s rupee and the Turkish lira and touching multi-month highs elsewhere. The advance […]
(PNA) –The peso gained P0.10 to a dollar Monday (April 7) after investors noted the lower-than-expected growth of non-farm payrolls in the United States in March 2014. It ended the day at P44.84 from P44.94 last Friday after the market noted the 192,000 increase in non-farm payroll for the third month this year, which the U.S. Bureau of Labor Statistics’ reported Friday last week (Friday night, Manila time). The growth of non-farm payrolls last March […]
