The peso closed lower at P48.631 to the US dollar Tuesday, (March 23) from P48.58 the previous day. The weighted average rate  depreciated  to P48.606 from P48.584. Total volume amounted  to $716.34 million, according to the Bankers Association of the Philippines.
Two foreign banks and one local bank has formally submitted its application to acquire a digital bank license in the Philippines, according to Bangko Sentral ng Pilipinas (BSP) Deputy Governor Chuchi G. Fonacier. Fonacier, who heads the BSP’s financial supervision sector, has confirmed that three...
The peso closed higher at P48.58 to the US dollar Monday, ( March 22)  from P48.62 last Friday.  The weighted average rate  appreciated  to P48.584 from P48.674. Total volume amounted  to $634.8 million, according to the Bankers Association of the Philippines.
Financial intelligence company, Moody’s Analytics, said the Bangko Sentral ng Pilipinas (BSP) is not expected to move the policy rate this week but if the rise in new COVID-19 cases continue, it could cut benchmark rate in the second quarter this year. “We expect the Philippines’ central bank...
The government borrowed more foreign loans in 2020 to fund COVID-19 response, pushing the outstanding external debt to grow by 17.8 percent to $98.488 billion from $83.618 billion in 2019, based on Bangko Sentral ng Pilipinas (BSP) data. The country’s external debt as a ratio to GDP increased to...
Banks and other Bangko Sentral ng Pilipinas (BSP) supervised financial institutions (BSFIs) such as pawnshops and e-money issuers have “low” to “medium” risk exposures when it comes to money laundering (ML), terrorist financing (TF) and proliferation financing (PF), based on the BSP’s...
The Bangko Sentral ng Pilipinas’ (BSP) auction of BSP bills last Friday was 1.37 times oversubscribed and fully awarded by the central bank. BSP Deputy Governor Francisco G. Dakila Jr. said they offered and awarded in full P70 billion of 28-day BSP bills. “The weighted average interest...
The Bangko Sentral ng Pilipinas (BSP) reported a lower net income of P34.533 billion in 2020, down 25.31 percent from P46.239 billion in 2019. Based on the latest central bank statement of income and expense, BSP’s net foreign...
The country’s current account surplus reached an all-time high of $12.979 billion in 2020, reversing the $3.047 billion shortfall in 2019, based on Bangko Sentral ng Pilipinas (BSP) data. The current account surplus – which is a record high based on BPM6-series and not comparable to older...
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno is doubling efforts for the enactment of an Agri-Agra Law with an updated financing approach to agrarian reform, fisheries, and agricultural sector that is more relevant and timely to improve the agricultural ecosystem. Benjamin Diokno,...
The Bangko Sentral ng Pilipinas (BSP) has increased the number of national IDs it will print this year to 70 million from the previous target of 45 million, according to its highest-ranking official. “BSP is committed to deliver the card volume requirements of the PSA (Philippine Statistics...
The Bangko Sentral ng Pilipinas (BSP) has updated its latest balance of payments (BOP) projection higher to a $6.2 billion surplus this year versus its previous $3.3 billion estimate announced last December. The country’s gross international reserves (GIR) is expected to climb by as much as...
