BSP to convert Libyan dinar until June 30 only
The Monetary Board of Bangko Sentral ng Pilipinas (BSP) said it will terminate the Currency Exchange Facility (CEF) for Libyan dinars. The facility was established in March to help overseas Filipino workers (OFWs) displaced by the strife in the North African country. With the CEF, each OFW may exchange up to P10,000 worth of Libyan [...]
April 29, 2011
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Tags: bank, banking, BSP, exchange rate, foreign currency, Foreign exchange, forex, Libyan dinar, money, OFWs, Philippines · Posted in: Announcement, banking, Consumers, e-commerce, finance, Foreign exchange, Government, International relations, money, OFWs, Philippine banks, Philippine business news, Philippines
New SBMA head named
The Aquino government has named the new chief executive officer of SBMA (Subic Bay Metropolitan Authority). Rafael L. Reyes will be replacing Armand Arreza as the new administrator and CEO of the Subic Bay Freeport Zone. Reyes is not really new to SBMA as he has been its deputy administrator before. Reyes has a Masters [...]
April 17, 2011
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Tags: board of directors, foreign relations, forex, Freeport Zone, Olongapo, Reyes, SBMA, SBMA Chief, Subic Bay, Zambales · Posted in: Announcement, franchise, Government, International relations, Law, People, Philippine business news, Philippines
Philippine remittances in 2010 reached $18.8 B
Remittances to the Philippines reached $18.8 billion in 2010, according to the Bangko Sentral ng Pilipinas (BSP) report. In December 2010, money sent home by overseas Filipino rose 8.1% to $1.69 billion, bringing total remittances for the year to a record of $18.76 billion. This record represents an 8% increase from the previous and beating [...]
February 15, 2011
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Tags: business news, finance, foreign remittance, forex, money, Philippines · Posted in: banking, economy, finance, Government, money, Philippines
Philippine Peso to climb up to P43 to $1
In spite of the prediction of some economist that the peso will soon weaken, especially during the coming elections, it continues it upwards surge. According to American banking giant Citigroup, it even sees the peso strengthening to 43 to $1. According to Citigroup economist Jun Trinidad, the country’s “export earnings as well as the tightening [...]
April 20, 2010
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Tags: dollar, dollar trading, economy, Foreign exchange, forex, money, Peso, Philippine · Posted in: economy, finance, Foreign exchange, money, Philippines
Peso to reach P44 to $1
Prakriti Sofat, an economist from leading global investment house Barclays Capital said the peso could reach 44 to the dollar level by the end of the year because of recovery in exports and the steady inflows of remittances. In the report from Philippine Star, Sofat said the outlook for Philippine exports remains positive given the [...]
March 14, 2010
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Tags: dollar, economy, export, Foreign exchange, forex, Peso, Philippines, remittances · Posted in: banking, Consumers, entrepreneur, finance, Foreign exchange, Government, investments, money, Philippine business news
Peso closed at 15-month high – 46 to $1
Peso closed at its highest for the last 15 months. Last Fridays dealing ended with the Philippine peso at a level of P46 to $1, in a 15-month record high attributed specifically to the influx of remittances for overseas Filipino workers. Not surprisingly, because of the holiday season, we can expect more Filipinos overseas to [...]
December 4, 2009
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Tags: business news, dollar trading, finance, forex, money, Philippines · Posted in: banking, economy, finance, Foreign exchange, money, OFWs, Philippines, Pricing
