Filipinos receiving and sending money from overseas lost an estimated total of ₱8.37 billion in 2023 to "hidden" fees charged by banks and money remittance centers on foreign currencies, according to findings from transparency research commissioned by global fintech firm Wise. Kristo Käärmann,...
Following the central bank’s decision to keep key interest rates on hold, the peso strengthened further on Friday, Feb. 14, breaking into the 57 level against the US dollar. According to data from the Bankers Association of the Philippines, the peso appreciated by 0.23 centavos from...
Following its recent gains, the peso declined on Monday, Dec. 9, slipping to the 58 level against the US dollar, mainly due to a slight correction in global currencies and ongoing geopolitical concerns. Data from the Bankers Association of the Philippines showed the local currency fell by 0.27...
The peso fell again to the P59 mark against the dollar on Tuesday, Nov. 26, primarily due to US President-elect Donald Trump’s intention to impose additional tariffs on products from several countries. Data from the Bankers Association of the Philippines showed that the local currency fell by...
The peso recovered on Friday, Nov. 21, strengthening to P58.87 against the US dollar, following its recent dip to a two-year low of P59. Data from the Bankers Association of the Philippines showed that the local currency appreciated by 13 centavos from Thursday’s closing rate of P59 against the...
The peso has weakened against the US dollar for the third consecutive trading day, closing at P59 on Thursday, Nov. 21, marking its lowest value in two years. According to data from the Bankers Association of the Philippines, the peso depreciated by 0.09 centavos from Wednesday's closing rate of...
The relative strength or weakness of the Philippine peso would be a consideration for monetary authorities in determining the extent and pace of the ongoing policy easing cycle, economists said. Following the 25-basis point (bp) reduction in the policy rate to six percent on Wednesday, Oct. 16,...
There will be another round of significant financial reprieve on the pockets of consumers next week as hefty price rollback will continue its streak at the gasoline stations next week, based on the calculation of the oil companies. As reckoned on the three-day outcome of trading in the regional...
Consumers will catch bigger financial break in their drive to the gas stations next week, as price rollbacks have gone heftier at end-week trading on Friday (September 6), prompting estimated price cuts for gasoline at the scale of P1.45 to P1.85 per liter. Diesel prices are also anticipated to...
Consumers will have a few more pesos to spend on their other basic needs this week, as fuel prices will be on significant rollback to the tune of P2.45 per liter for gasoline; and P1.90 per liter for diesel products. Kerosene, which is the other commodity in the triumvirate of weekly price...
While its corporate life will already end in two years, the outstanding financial obligations of state-run Power Sector Assets and Liabilities Management Corporation (PSALM) is still at a whopping P292.486 billion as of end-April this year. According to the company, its total debts stand at P254.6...
It will be another round of stranglehold on consumers’ pockets next week, as big-time oil price hikes will reign at the domestic pumps, based on the calculation of the oil companies. As estimated by the industry players, the price of diesel products will rise significantly by P1.20 to P1.60 per...
