The peso closed lower at P48.635 to the US dollar Monday, (April 5) from P48.53 last Wednesday.  The weighted average rate  depreciated  to P48.556 from P48.544. Total volume amounted  to  $637.3 million, according to the Bankers Association of the Philippines.
Overseas Filipino Bank (OF Bank), a subsidiary of government-owned Land Bank of the Philippines, has become the country’s first online-only bank after the Bangko Sentral ng Pilipinas (BSP) granted it digital banking license on Maundy Thursday. BSP Deputy Governor Chuchi G. Fonacier, head of BSP...
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said Wednesday that March inflation may have come down to 4.6 percent from 4.7 percent in February with government’s non-BSP actions and improved supply conditions. The 4.6 percent is BSP’s point inflation projection while its...
The Philippines’ international investment position (IIP) in 2020 improved to a net external liability of $20.2 billion, the Bangko Sentral ng Pilipinas (BSP) said. According to the BSP, the 2020 IIP external liability translates to a 47.9 percent improvement from the 2019 liability of $38.8...
The Bangko Sentral ng Pilipinas (BSP) registered $40.41 million of net foreign portfolio investments or hot money outflows in February, reversing the $40.06 million net inflows same time in 2020. Gross outflows reached $1.378 billion while gross inflows totalled $1.337 billion. About 39.8 percent...
The Bangko Sentral ng Pilipinas (BSP) received P685.08 billion of tenders for its two-tenor term deposit facility (TDF) auction against offer of P480 billion. The average rate for the 7-day TDF fell by 1.522 basis points (bps) to 1.8280 percent while the 14-day rate also decreased by 1.716 bps to...
Big banks’ outstanding loans continue to decline by 2.7 percent year-on-year in February, worse than 2.5 percent in January as both banks and borrowers shy away from releasing and availing of loans while COVID-19 cases are still on the high side and delaying economic recovery. “Credit...
The peso closed higher  at P48.53 to the US dollar Wednesday, (March 31)   from P48.545 the previous day. The weighted average rate  depreciated  to P48.544 from P48.466. Total volume amounted  to  $933.19 million, according to the Bankers Association of the...
Central banks around the world should have more focus on resolving the debt problems of both businesses and households resulting from the COVID-19 pandemic, according to a Bangko Sentral ng Pilipinas (BSP) official. “COVID is a heavy cost to society but, in the financial markets, debt exposures...
The Bangko Sentral ng Pilipinas (BSP) is conducting a gender-focused demand-side survey on the micro, small and medium enterprises (MSME) sector in aid of appropriate policies that will benefit and cater to women who run MSMEs. The survey, to be released in the fourth quarter this year, intends to...
The government has issued the Implementing Rules and Regulations (IRR) of Republic Act No. 11523, or the Financial Institutions Strategic Transfer (FIST) Act which will regulate the sale of non-performing assets of banks. The IRR was issued by the Securities and Exchange Commission (SEC),...
The peso closed lower  at P48.545 to the US dollar Tuesday, (March 30)  from P48.415 the previous day. The weighted average rate  appreciated  to P48.466 from P48.475. Total volume amounted  to $770.67  million, according to the Bankers Association of the Philippines.
