The independent Bangko Sentral ng Pilipinas (BSP) said it was President Benigno S. Aquino III who enabled the BSP to have a buffer by providing it finally after past presidents’ inaction – to be sufficiently capitalized in 2012. “The BSP deeply appreciates President Aquino’s support for...
The peso closed higher at P48.481 to the US dollar  Friday, (June 25)  from P48.735 the previous day. The weighted average rate appreciated to P48.57 from P48.838. Total volume amounted to $985.2 million according to the Bankers Association of the Philippines.
Mobile e-wallet GCash has 40 million Filipino users todate and continues building its user base reach at least half of the population, or 50 million, for a more inclusive financial ecosystem to fast-track economic recovery. Our partnerships with the private sector have provided us with a wide...
The Bangko Sentral ng Pilipinas (BSP) has decided to keep its benchmark overnight rate at two percent during Thursday’s fourth Monetary Board policy meeting for the year because economic recovery remains “tentative” in terms of momentum, said BSP Governor Benjamin E. Diokno. 14826 “(The)...
The peso closed higher at P48.735 to the US dollar Thursday, (June 24)  from P48.805 the previous day. The weighted average rate depreciated to P48.838 from P48.791. Total volume amounted to $1.005.06 billion according to the Bankers Association of the Philippines.
OF SUBSTANCE AND SPIRIT Diwa C. Guinigundo Seals of approval for sovereigns like the Philippines are difficult to obtain. International financial institutions (IFIs), credit rating agencies (CRAs) and foreign investors would usually scrutinize our ability to withstand global shocks. While...
The Bangko Sentral ng Pilipinas (BSP) auction of term deposit facility (TDF) this week attracted lower average rates ahead of the BSP’s monetary policy meeting on Thursday (June 24). The BSP offered lower TDF volumes this week of P520 billion from the previous week’s P530 billion. The total...
The central bank reported a higher balance of payments (BOP) deficit of $1.627 billion in the first five months after incurring a $1.397 billion shortfall for the month of May. The end-May BOP deficit is a reversal of the $4.029 billion surplus recorded in the same period last year. The Bangko...
The peso closed lower at P48.805 to the US dollar  Wednesday, (June 23) from P48.70  the previous day.  The weighted average rate depreciated to P48.791 from P48.717. Total volume amounted to $1.103.42 billion according to the Bankers Association of the Philippines.
British giant HSBC said the Bangko Sentral ng Pilipinas (BSP) will likely start raising its benchmark rate within the first quarter of 2022 and to increase it three times, bringing the current two percent policy rate to 2.75 percent by the end of next year. HSBC managing director and chief...
The peso closed lower at P48.695 to the US dollar  Monday, (June 21) from P48.43 last Friday. The weighted average rate depreciated to P48.63 from P48.387. Total volume amounted to $1.338.5 billion according to the Bankers Association of the Philippines.
The Monetary Board of the Bangko Sentral ng Pilipinas (BSP) is expected to leave its policy rate steady at two percent during Thursday’s policy meeting, according to Moody’s Analytics. “The near-term prospects remain worrisome for the Philippines as the country copes with an intense domestic...
