Cash remittances sent home by Overseas Filipinos increased by 6.3 percent year-on-year as of end-May to $12.280 billion from $11.554 billion in 2020, the Bangko Sentral ng Pilipinas (BSP) reported Tuesday. For the month of May only, cash remittances which are transferred via banks and are easily...
The peso closed higher  at P50.00 to the US dollar Tuesday ( July 13)   from P50.12 the previous day. The weighted average rate depreciated to P50.138 from P50.111. Total volume amounted to $801.5 million according to the Bankers Association of the Philippines.Â
The Philippines’ gross international reserves (GIR) dropped to $106.081 billion as of end-June from the previous month’s $107.250 billion, mainly because of the decline in the prices of gold, according to the Bangko Sentral ng Pilipinas (BSP). The end-June GIR is 13.49 percent higher compared...
The adverse impact of the prolonged pandemic will be short-lived, the government’s chief economic manager and the central bank governor said after Fitch Ratings downgraded the Philippines’ outlook to negative. BSP Gov. Benjamic Diokno and Finance Sec. Carlos Dominguez III Finance Secretary...
The peso closed lower at P50.12 to the US dollar Monday, (July 12) from P50.08 last Friday.  The weighted average rate depreciated to P50.111 from P50.083. Total volume amounted to $664.2 million according to the Bankers Association of the Philippines.Â
The central bank’s Monetary Board has approved $2.8 billion worth of government or public sector foreign borrowings in the second quarter this year, down by 59 percent from same time in 2020 of $6.84 billion. The government raised EUR2.10 billion ($2.49 billion) from a Euro-denominated bond...
The Philippine banking system’s total assets went up by 4.10 percent year-on-year to P19.536 trillion end-May from P18.766 trillion same time in 2020, based on Bangko Sentral ng Pilipinas (BSP) data. Amid the COVID-19 pandemic, the BSP said the industry’s asset expansion continue to be positive...
The Bangko Sentral ng Pilipinas (BSP) noted higher demand for its weekly auction of 28-day BSP securities with P182.21 billion bids versus P158.20 billion last week. The bid coverage ratio was up at 1.8221 compared to July 2’s 1.5820. The P182.21 billion tenders exceeded the offer volume of...
In this new world, safety is priority The COVID-19 pandemic and the consequent lockdowns and movement restrictions compelled Filipino consumers to shift from cash to digital payments, and the use of digital platforms for fund transfers, InstaPay, and PESONet has increased tremendously. As of...
Banks’ non-performing loan (NPL) ratio worsened to a 13-year high of 4.49 percent in May versus 4.35 percent in the previous month and from 2.43 percent same time in 2020, based on Bangko Sentral ng Pilipinas (BSP) data. The last time gross NPL ratio was at 4.49 percent was in June 2008 before it...
The peso closed lower at P49.875 to the US dollar Thursday, ( July 8)   from P49.79 the previous day. The weighted average rate depreciated to P49.87 from P49.786. Total volume amounted to $1.127.3 billion according to the Bankers Association of the Philippines.Â
The peso closed lower at P49.79 to the US dollar Wednesday (July 7) from P49.50 the previous day. The weighted average rate depreciated to P49.786 from P49.411. Total volume amounted to $937.9 million according to the Bankers Association of the Philippines. This level was peso’s...
