Author Topic: 2007: The Philippine Peso and The Philippine Stock Exchange  (Read 4823 times)

Gervistill

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2007: The Philippine Peso and The Philippine Stock Exchange
« on: August 28, 2007, 12:18:13 AM »
3rd Quarter 2007

THE PHILIPPINE PESO

Week 1:
July 2, 2007 P45.905 (+ P0.335)
July 3, 2007 P45.83 (+ P0.075)
July 4, 2007 P46.06 (- P0.23)
July 5, 2007 P46.17 (- P0.11)
July 6, 2007 P46.08 (+P0.09)

Week 2:
July 9, 2007 P46.00 (+ P0.08)
July 10, 2007 P45.95 (+ P0.05)
July 11, 2007 P46.21 (- P0.26)
July 12, 2007 P45.98 (+ P0.23)
July 13, 2007 P45.75 (+ P0.23)

Week 3:
July 16, 2007 P45.55 (+ P0.20)
July 17, 2007 P45.25 (+ P0.30)
July 18, 2007 P45.28 (- P0.03)
July 19, 2007 P45.00 (+ P0.28)
July 20, 2007 P44.80 (+ P0.20)

Week 4:
July 23, 2007 P44.81 (- P0.01)
July 24, 2007 P44.82 (- P0.01)
July 25, 2007 P45.06 (- P0.24)
July 26, 2007 P45.325 (- P0.265)
July 27, 2007 P45.72 (- P0.395)

Week 5:
July 30, 2007 P45.49 (- P0.23)
July 31, 2007 P45.34 (+ P0.15)
August 1, 2007 P45.83 (- P0.49)
August 2, 2007 P45.84 (- P0.01)
August 3, 2007 P45.46 (+ P0.38)

Week 6:
August 6, 2007 P45.455 (+ P0.005)
August 7, 2007 P45.43 (- P0.025)
August 8, 2007 P45.18 (+ P0.25)
August 9, 2007 P45.36 (- P0.18)
August 10, 2007 P45.74 (- P0.38)

Week 7:
August 13, 2007 P45.64 (+ P0.10)
August 14, 2007 P45.83 (- P0.19)
August 15, 2007 P46.23 (- P0.40)
August 16, 2007 P46.43 (- P0.20)
August 17, 2007 P46.85 (- P0.42)

Week 8:
August 20, 2007 Special Non-Working Holiday
August 21, 2007 P46.90 (- P0.05)
August 22, 2007 P46.47 (+ P0.43)
August 23, 2007 P46.64 (- P0.17)
August 24, 2007 P46.70 (- P0.04)


The trend: +(19); - (20); = (0)

THE PHILIPPINE STOCK EXCHANGE

Week 1:
July 2, 2007 3,691.68 (+ 26.45)
July 3, 2007 3,751.99 (+ 60.31)
July 4, 2007 3,731.66 (- 20.33)
July 5, 2007 3,802.32 (+ 70.66)
July 6, 2007 3,758.84 (- 43.48)

Week 2:
July 9, 2007 3,744.05 (- 14.79)
July 10, 2007 3,720.96 (- 23.09)
July 11, 2007 3,704.22 (-16.74)
July 12, 2007 3,756.75 (+ 52.53)
July 13, 2007 3,786.02 (+29.27)

Week 3:
July 16, 2007 3,753.26 (- 32.76)
July 17, 2007 3,729.68 (- 23.58)
July 18, 2007 3,734.80 (+ 5.12)
July 19, 2007 3,702.91 (- 31.89)
July 20, 2007 3,738.28 (+ 35.37)

Week 4:
July 23, 2007 3,737.79 (- 0.49)
July 24, 2007 3,706.24 (- 31.55)
July 25, 2007 3,645.51 - 60.73)
July 26, 2007 3,659.48 (+ 13.97)
July 27, 2007 3,518.56 (- 140.92)

Week 5:
July 30, 2007 3,467.46 (- 51.10)
July 31, 2007 3,501.20 (+ 33.74)
August 1, 2007 3,426.45 (- 74.75)
August 2, 2007 3,359.02 (- 67.43)
August 3, 2007 3,352.24 (- 6.78)

Week 6:
August 6, 2007 3,256.99 (- 95.25)
August 7, 2007 3,348.34 (+ 91.35)
August 8, 2007 3,375.91 (+ 27.57)
August 9, 2007 3,385.20 (+ 9.29)
August 10, 2007 3,281.96 (- 103.24)

Week 7:
August 13, 2007 3,267.03 (- 14.93)
[August 14, 2007 3,263.56 (- 3.47)
August 15, 2007 3,130.34 (- 133.22)
August 16, 2007 2,942.31 (- 188.03)
August 17, 2007 2,884.34 (- 57.97)

Week 8:
August 20, 2007 Special Non-Working Holiday
August 21, 2007 3,167.52 (+ 283.18)
August 22, 2007 3,139.46 (- 28.06)
August 23, 2007 3,229.15 (+ 89.69)
August 24, 2007 3,206.94 (- 22.21)

The trend: + (14); -(25); = (0)


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Gervistill

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Re: Q3 2007: The Philippine Peso and The Philippine Stock Exchange
« Reply #1 on: August 28, 2007, 09:24:01 PM »
"  F O R M   follows  F U N C T I O N " is a principle of Modern architecture and industrial design : arch't Louis Sullivan

Gervistill

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Re: Q3 2007: The Philippine Peso and The Philippine Stock Exchange
« Reply #2 on: August 28, 2007, 09:26:54 PM »
If the Peso is at 56 against 1 dollar, people are mad and say the government is useless, doing nothing.

If the Peso is at 45 against 1 dollar, people are still mad because the exporters are affected and the prices of goods still continue to go up.

Ano ba talaga kuya?

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Re: Q3 2007: The Philippine Peso and The Philippine Stock Exchange
« Reply #3 on: August 28, 2007, 11:32:07 PM »
sa 56 Pesos against 1 dollar nalang ko!

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Re: Q3 2007: The Philippine Peso and The Philippine Stock Exchange
« Reply #4 on: August 29, 2007, 02:58:40 PM »
Peso falls to 3-1/2-month low on credit woes

By Enrico dela Cruz
Thomson Financial
Last updated 01:01pm (Mla time) 08/29/2007


MANILA, Philippines -- The Philippine peso fell to its lowest level against the US dollar in three and a half months in morning trade Wednesday, as investors dumped risky assets on fresh worries about the US economy and credit markets.

The peso weakened to P46.99 against the dollar in morning deals after closing at P46.71 on Tuesday. That was the peso's lowest level since May 16 when it hit P47.02.

Traders said there is talk that the central bank sold dollars in the spot market to prevent the local currency from slipping into the P47-area.

The pair averaged P46.93 at the midday break.

"Risk aversion continues because of renewed credit concerns," a trader with a local commercial bank said.

Merrill Lynch on Tuesday downgraded ratings on Citigroup, Bear Stearns and Lehman Brothers, saying these institutions have the most exposure to the problems in credit markets, while a report that US consumer confidence fell to a 12-month low in August added to anxiety on Wall Street, dragging Asian markets on Wednesday.


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Re: Q3 2007: The Philippine Peso and The Philippine Stock Exchange
« Reply #5 on: August 30, 2007, 01:19:55 PM »
FLASH NEWS!!!!!

GDP in Q2 rises by 7.5% from 5.5%, fastest in 2 decades

By Lira Dalangin-Fernandez
INQUIRER.net


(UPDATE) MANILA, Philippines -- Buoyed by remittances from Filipinos abroad, gross domestic product (GDP) and gross national product (GNP) rose by 7.5 percent and 8.3 percent, respectively, in the second quarter of 2007.

No less than President Gloria Macapagal-Arroyo made the announcement Thursday during a briefing in Malacanang with her economic team hours before she was due to depart for Malaysia.

"As I leave for Malaysia to join other ASEAN leaders in the 50th anniversary of Malaysia's independence from British rule, I am elated that for the second quarter of this year, our gross domestic product or GDP rose by 7.5 percent and gross national product or GNP by 8.3 percent, bringing to 7.3 percent our economic growth in the first half of the year," she said in a statement.

"We bring this elation and pride to Malaysia, the third largest economy in the region, and second home to thousands of overseas Filipino workers. I will bring thanks and congratulations to the Filipinos in Malaysia for their contribution to our GNP growth," she said.

Arroyo said the 7.5 percent GDP growth this year from 5.5 percent in the same quarter last year was the "fastest growth in two decades."

In her presentation of the second quarter economic performance, Estrella Domingo, secretary general of the National Statistical Coordination Board (NSCB), attributed the GDP growth to the strong remittance and robust performance in trade, construction, manufacturing and sustained increase in household spending and investment in construction.

Arroyo stayed on to listen to the presentation.

The GDP growth came despite the holding of the senatorial election last May, which some business sectors predict would slow down growth.

Acting socioeconomic planning secretary Augusto Santos said the strong performance of the economy showed that macroeconomic reforms have been effective.

But he said much needs to be done to push for policies to boost business, modernize agriculture, strengthen small entrepreneurs, expand enterprise, and spend more for social services, especially for education and health.

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Re: Q3 2007: The Philippine Peso and The Philippine Stock Exchange
« Reply #6 on: August 30, 2007, 08:56:33 PM »
RP can learn from Vietnam
By Willy E. Arcilla
Inquirer
Last updated 06:49pm (Mla time) 08/19/2007


OUR COUNTRY can learn a great deal from Vietnam, particularly in how our neighboring Asean state successfully revitalized its moribund economy starting in 1986.

Since then, Vietnam powered ahead with an average annual growth of 8 percent to earn the accolades of the global business community.

At the same time, it reduced poverty incidence at home, thus achieving the seemingly elusive goal of sustainable economic growth and equitable income distribution.

'Doi Moi'
Faced with stagnant growth, a severe food shortage, fiscal deficits, soaring inflation and chronic trade imbalances, the Sixth National Congress of Vietnam's Communist Party, held in December 1986, initiated an overall economic renovation policy.

Popularly known as "Doi Moi", the policy was aimed at making the country self-sufficient in food production and improving the standard of living of the people.

The core of "Doi Moi" was to reduce state intervention in business and open the country to foreign investment.

The government removed subsidies to drive efficiency and liberalized prices. A Foreign Investment Code was adopted, and the banking system reformed.

In the agricultural sector, land reform gave usage rights, tenure and greater autonomy to farmers.

Trade was liberalized in 1991, allowing more public and private firms to participate in external trade as export and import markets were expanded beyond the former Soviet Union and East European nations, Vietnam's traditional trading partners.

As a result of these reforms, exports have grown at a robust and consistent average rate of over 20 percent annually.

For the first half of 2007, Vietnam's exports have further accelerated to 22 percent against the Philippines' 6.6 percent, which has slowed considerably partly due to the strengthening of the peso.

It is noteworthy that despite Vietnam's export surge, and improvements in its balance of trade and balance of payments, the Vietnam currency dong continues to depreciate which manifests the government's support for exporters.

Foreign investments
Since "Doi Moi," Vietnam's foreign direct investments (FDI) have reached an accumulated invested capital of $80 billion, according to Vietnam Prime Minister Nguyen Tan Dung, who spoke at a Business Forum in the Manila Hotel during his first state visit here.

In 2006 alone, FDI reached $10 billion compared to our $2 billion. This year, Vietnam projects to attract as much as $25 billion compared to our target of $2.5 billion.

From January to May, the Philippines' FDI hit only $900 million, 60 percent below 2006's.

Vietnam's projected FDI for 2007 represents nearly 50 percent of the FDI expected of China, even as China's population is 16 times that of Vietnam's, which is a strong indicator of the potential that foreign investors see and their confidence in Asia's next tiger economy.

This "gold rush" of investments into Vietnam can be attributed to several factors.

In meetings and interviews with foreign businessmen doing business in Ho Chi Minh, University of Asia and the Pacific economist and an organizer for the First Philippine-Vietnam Mission scheduled in Ho Chi Minh City in end-August, Florence Mojica-Sevilla, observed that foreign investors praised the Vietnam government for creating a climate conducive for investments.

It is a climate characterized by political stability, peace and order, an openness to market-oriented reforms, generous fiscal incentives, low corporate tax rates, a competitive cost structure, and a young, well-educated, productive, and highly skilled workforce.

An observer commented, "One of the most apparent differences between the Philippines and Vietnam is that in our country, there continues to be an obsession in politics, celebrities and entertainment, while in Vietnam, everyone simply works hard and fast."

Income distribution
Vietnam's GINI Coefficient, (an economist's measure of income inequality where a value of 1 means only 1 person owns 100 percent of a country's income) is only at 0.40, an admirable feat considering that the country has been independent for only 30 years since defeating the United States in the Vietnam War.

In contrast, the Philippines, which claims to be one of Asia's oldest independent and democratic republics, hovers nearer to 0.50, even higher than some African nations.

At the bilateral Business Forum, Vietnam's Vice Minister of Trade and Industry Nguyen Tan Deng added that as part of "Doi Moi," the government had adopted a pro-poor policy by prioritizing on food production and support for farmers via land reform, training, financing and farm-to-market infrastructure linkages.

Professor Rolando Dy, formerly with the World Bank and now the Dean of Agribusiness in the University of Asia and the Pacific, confirmed that Vietnam has already achieved self-sufficiency in food production.

Today, Vietnam is poised to overtake Thailand as the world's largest exporter of rice.

It also exports a wide variety of agricultural and marine products such as coffee, green tea, black pepper, rubber, cashew nuts, catfish, seabass, and tiger prawns.

Vietnam's per capita income of $700 is expected to reach $1,200 by 2010, representing a compounded annual growth rate of plus 15 percent, whereas the per capita GDP of the Philippines remained virtually unchanged for the past 50 years at around $1,200.

It is admirable for Vietnam to project raising per capita GDP even as it increases its population base to 100 million people while some Philippine government planners seem to blame our country's population for poverty, instead of harnessing their productivity.

Undaunted by China
Many countries including the Philippines appear to have given up on competing with China, the super factory of the world, but Vietnam remained undaunted.

Today, its food processing industry has not only achieved global standards, but has started to successfully compete with China's.

This is true as well in durable consumer goods like footwear and garments.

And now that the US and other markets have been spooked by reports of adulterated Chinese products ranging from canned food and candy, seafood and pet food, toys and children's clothes, tires and bicycles, Vietnam's exporters will stand to benefit as an alternative source, while China remedies its quality control issues.

In the field of high-value electronics, Intel is not only building its $1-billion factory in Vietnam but also its own school to train and recruit Vietnamese to supply its staffing needs.

Business mission
But the Philippines can take advantage of Vietnam's growth.

It is for this reason that a Philippine-Vietnam Business Mission will be held in Ho Chi Minh City from Aug. 29 to Sept. 1, 2007.

It is being initiated jointly by the Philippine Chamber of Commerce and Industry, Department of Trade and Industry, ZMG Signium Ward Howell Inc. and the University of Asia and the Pacific in conjunction with the Vietnam Chamber of Commerce and Industry and the Vietnam Trade Office in the Philippines.

Gigi Zulueta, managing director of ZMG Signium Ward Howell Inc., explained that the objectives of the mission are primarily to: (1) explore opportunities for Philippine companies to set up trade relationships directly with Vietnamese partners in import/export as well as direct and financial investments between the two Asean states; (2) obtain a better understanding of the success of Vietnam's "Doi Moi" that was started in 1986 for possible adaptation in the Philippines; and (3) enhance bilateral relations between the two countries.

Clearly, indicators leave no doubt that Vietnam is well-positioned to become Asia's next tiger economy, and it is thus imperative for the Philippines to learn from and participate in Vietnam's success story.

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Gervistill

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Re: Q3 2007: The Philippine Peso and The Philippine Stock Exchange
« Reply #7 on: September 01, 2007, 03:29:24 PM »
Index surges 111 pts on strong economic growth
Friday, August 31, 2007
The Philippine Daily Inquirer

Share prices closed 3.4 percent higher yesterday after the government reported its best quarterly economic growth numbers in two decades, dealers said.

The composite index added 110.81 points to 3,320.34, just off the day’s high of 3,321.85. It was the index’s best closing level since May 7.

The broader all-share index rose 64.71 points to 2,110.

Gainers led losers 119 to 11, while 34 stocks were unchanged. A total of 2.1 billion shares worth P4.2 billion were traded.

“The market’s steep turnaround was due to the robust growth of the economy which surprised the market, and the recovery on Wall Street,” said Ron Rodrigo of Unicapital Securities.

The gross domestic product (GDP) rose 7.5 percent from the previous year in the three months to June, boosted by the strong performance of the services sector and increased industrial output.

Officials said the full-year growth target of between 6.1 and 6.7 percent was now within reach, with a good chance that GDP growth may reach the seven-percent levels for the whole of 2007.

Rodrigo said that despite the strong growth, investors will continue to trade cautiously given the continued volatility in global financial markets.

“The local market’s fundamentals are solid, but financial markets are moving as one,” he added.

The Dow industrials rose almost 250 points on Wednesday, recovering most of its over 280-point loss on Tuesday.

Analysts said the growth momentum of the domestic economy may be difficult to be sustained in the remaining months, especially if there is a major fallout from the US subprime and credit problems.

“It would be hard to imagine the third quarter performing as well as the second quarter given the damage in the US consumer confidence. The credit problems are far from over,” said Jose Vistan of AB Capital Securities.

The government need to boost spending on infrastructure improvement if it is to achieve its full-year growth forecast, said Frances Cheung, an economist at Standard Chartered Bank in Hong Kong.

“Domestic investment is still weak that’s why government should spend more on infrastructure. This will also mitigate risks on the exports sector which may weaken if there is an economic slowdown in the US,” said Cheung. — AFP


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Re: Q3 2007: The Philippine Peso and The Philippine Stock Exchange
« Reply #8 on: September 01, 2007, 04:06:59 PM »
3rd Quarter 2007

THE PHILIPPINE PESO

Week 1:
July 2, 2007 P45.905 (+ P0.335)
July 3, 2007 P45.83 (+ P0.075)
July 4, 2007 P46.06 (- P0.23)
July 5, 2007 P46.17 (- P0.11)
July 6, 2007 P46.08 (+P0.09)

Week 2:
July 9, 2007 P46.00 (+ P0.08)
July 10, 2007 P45.95 (+ P0.05)
July 11, 2007 P46.21 (- P0.26)
July 12, 2007 P45.98 (+ P0.23)
July 13, 2007 P45.75 (+ P0.23)

Week 3:
July 16, 2007 P45.55 (+ P0.20)
July 17, 2007 P45.25 (+ P0.30)
July 18, 2007 P45.28 (- P0.03)
July 19, 2007 P45.00 (+ P0.28)
July 20, 2007 P44.80 (+ P0.20)

Week 4:
July 23, 2007 P44.81 (- P0.01)
July 24, 2007 P44.82 (- P0.01)
July 25, 2007 P45.06 (- P0.24)
July 26, 2007 P45.325 (- P0.265)
July 27, 2007 P45.72 (- P0.395)

Week 5:
July 30, 2007 P45.49 (- P0.23)
July 31, 2007 P45.34 (+ P0.15)
August 1, 2007 P45.83 (- P0.49)
August 2, 2007 P45.84 (- P0.01)
August 3, 2007 P45.46 (+ P0.38)

Week 6:
August 6, 2007 P45.455 (+ P0.005)
August 7, 2007 P45.43 (- P0.025)
August 8, 2007 P45.18 (+ P0.25)
August 9, 2007 P45.36 (- P0.18)
August 10, 2007 P45.74 (- P0.38)

Week 7:
August 13, 2007 P45.64 (+ P0.10)
August 14, 2007 P45.83 (- P0.19)
August 15, 2007 P46.23 (- P0.40)
August 16, 2007 P46.43 (- P0.20)
August 17, 2007 P46.85 (- P0.42)

Week 8:
August 20, 2007 Special Non-Working Holiday
August 21, 2007 P46.90 (- P0.05)
August 22, 2007 P46.47 (+ P0.43)
August 23, 2007 P46.64 (- P0.17)
August 24, 2007 P46.70 (- P0.04)

Week 9:
August 27, 2007 Special Non-Working Holiday
August 28, 2007 P46.71 (- P0.01)
August 29, 2007 P46.83 (- P0.12)
August 30, 2007 P46.84 (- P0.01)


The trend: +(19); - (20); = (0)

THE PHILIPPINE STOCK EXCHANGE

Week 1:
July 2, 2007 3,691.68 (+ 26.45)
July 3, 2007 3,751.99 (+ 60.31)
July 4, 2007 3,731.66 (- 20.33)
July 5, 2007 3,802.32 (+ 70.66)
July 6, 2007 3,758.84 (- 43.48)

Week 2:
July 9, 2007 3,744.05 (- 14.79)
July 10, 2007 3,720.96 (- 23.09)
July 11, 2007 3,704.22 (-16.74)
July 12, 2007 3,756.75 (+ 52.53)
July 13, 2007 3,786.02 (+29.27)

Week 3:
July 16, 2007 3,753.26 (- 32.76)
July 17, 2007 3,729.68 (- 23.58)
July 18, 2007 3,734.80 (+ 5.12)
July 19, 2007 3,702.91 (- 31.89)
July 20, 2007 3,738.28 (+ 35.37)

Week 4:
July 23, 2007 3,737.79 (- 0.49)
July 24, 2007 3,706.24 (- 31.55)
July 25, 2007 3,645.51 - 60.73)
July 26, 2007 3,659.48 (+ 13.97)
July 27, 2007 3,518.56 (- 140.92)

Week 5:
July 30, 2007 3,467.46 (- 51.10)
July 31, 2007 3,501.20 (+ 33.74)
August 1, 2007 3,426.45 (- 74.75)
August 2, 2007 3,359.02 (- 67.43)
August 3, 2007 3,352.24 (- 6.78)

Week 6:
August 6, 2007 3,256.99 (- 95.25)
August 7, 2007 3,348.34 (+ 91.35)
August 8, 2007 3,375.91 (+ 27.57)
August 9, 2007 3,385.20 (+ 9.29)
August 10, 2007 3,281.96 (- 103.24)

Week 7:
August 13, 2007 3,267.03 (- 14.93)
[August 14, 2007 3,263.56 (- 3.47)
August 15, 2007 3,130.34 (- 133.22)
August 16, 2007 2,942.31 (- 188.03)
August 17, 2007 2,884.34 (- 57.97)

Week 8:
August 20, 2007 Special Non-Working Holiday
August 21, 2007 3,167.52 (+ 283.18)
August 22, 2007 3,139.46 (- 28.06)
August 23, 2007 3,229.15 (+ 89.69)
August 24, 2007 3,206.94 (- 22.21)

Week 9:
August 27, 2007 Special Non-Working Holiday
August 28, 2007 3,251.77 (+ 44.83)
August 29, 2007 3,209.53 (- 42.24)
August 30, 2007 3,320.34 (+ 110.81)
August 31, 2007 3,365.29 (+ 44.95)

The trend: ? (17); ? (26); = (0)


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Re: Q3 2007: The Philippine Peso and The Philippine Stock Exchange
« Reply #9 on: September 02, 2007, 12:55:39 PM »
In case you missed it...



Cover of Wall Street Journal Asia. Woo hoo!

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Re: Q3 2007: The Philippine Peso and The Philippine Stock Exchange
« Reply #10 on: September 02, 2007, 12:58:12 PM »
wohoo the perpetual sickman of asia is making the headlines!! Im sure it is a good exposure to attract more investments


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Re: Q3 2007: The Philippine Peso and The Philippine Stock Exchange
« Reply #11 on: September 03, 2007, 03:29:00 PM »
Poverty decreasing, new UN report says
By Christine F. Herrera
Manila Standard
http://www.manilastandardtoday.com/?...ws1_sept3_2007

THE number of people living in extreme poverty in the Philippines is decreasing, with the proportion of families below the poverty threshold falling to 24.4 percent in July this year against 39.9 percent in 1990, a report says.

As a result, the Philippines has a “high chance of success” in achieving its goal of reducing the number of households living in extreme poverty—or those that survive on less than $1 a day—from 39.9 percent in 1990 to 19.95 percent of the population by 2015, according to the United Nations’ midterm report on the Philippines’ Millennium Development Goals.

The Philippines’ Medium Development Goals are a set of time-bound targets for combating poverty, hunger, diseases, illiteracy, environmental degradation and discrimination against women, and they consist of eight goals, 18 targets, and 48 indicators covering the period 1990 to 2015.

The participants in the plan are the Executive and Legislative branches of government, national government agencies, local government units, the business sector, civil society groups and the academe.

The UN report, to be released worldwide this October, says the Philippines’ targets are “on track,” and that statistics point to economic gains having trickled down to the grassroots.

It says the Philippines also has “high chances of success” in its goal of reducing malnutrition and child mortality, promoting gender equality, combating HIV, AIDS, malaria and other diseases, and improving sanitation and access to safe drinking water by 2015.

But the UN says the Philippines must “closely watch” maternal mortality, access to reproductive health services, and curb its high population growth rate of 2.36 percent—which brought the total number of Filipinos to 88.7 million as of July.

The UN says the proportion of the Philippine population below the poverty threshold was 45.3 percent in 1990, but that went down to 30 percent in July 2007 and is “on track” to slide further to 22.65 percent by 2015.

It says the Philippines also has “high chances of success” in reducing the number of households whose food intake is less than 100 percent, to 34.7 percent by 2015 from 56.9 percent now and 69.4 percent in 1990.

The Philippines should also be able to bring down the number of underweight children age zero to 5 to 17.25 percent by 2015, down from 24.6 percent in 2007 and 34.5 percent in 1990, the UN says.

It says the Philippines has also been successful in providing girls the same education opportunities as boys—it has already surpassed its 2015 target as of this year—and dramatically reduced child and infant mortality.

The country has also been successful in combating HIV, AIDS and malaria and improving access to safe drinking water, which is now 80 percent—up from 73.3 percent in 1990 and may reach the 2015 target of 86.8 percent.

But the UN describes the Philippines’ record in improving maternal health and in achieving universal primary education as poor.

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Re: Q3 2007: The Philippine Peso and The Philippine Stock Exchange
« Reply #12 on: September 05, 2007, 03:28:06 PM »



Romulo: RP growth ready for competitive world trade

By Cynthia Balana
Inquirer
Last updated 11:00pm (Mla time) 09/04/2007



MANILA, Philippines -- Foreign Affairs Secretary Alberto Romulo said on Tuesday the Philippines would send a "clear and strong message" to members of the Asia-Pacific Cooperation Conference (APEC) about its long-term economic achievements and preparedness to compete economically on a global scale.

"Our message to Australia and the world is: the Philippines means business; our growth will be sustained; we are here for the long term. It is time the world takes notice," Romulo said in his departure statement.

Romulo will attend the APEC Ministerial Meeting from September 5 to 9, 2007 in Sydney, Australia, a prelude to the summit of the APEC heads of state.

In his speech, Romulo stressed that quarterly performance since 2001 showed the resiliency and robustness of the Philippine economy.

"Our fiscal and economic reforms have taken root and are showing concrete results: our 2007 second quarter economic growth is the fastest in two decades; we have had consecutive quarterly growth since 2001," he stressed.

Romulo said globalization provided opportunities for shared growth but also laid bare deep development gaps that still needed to be overcome.

"We live today in an increasingly interdependent world, where challenges are inter-related and whose solutions similarly require an integrated and interlinked approach," he said.

"Challenges from the traditional to the emergent -- have taken on a global character and solutions call on all stakeholders to decide and move collectively and swiftly," he said.

These realities, he said, underscored the need for continuing dialogue and intensified cooperation in the pursuit of greater peace, progress and prosperity in the larger Asia-Pacific region.

He said the common resolve to face regional and global challenges through meaningful dialogue and greater cooperation would bind the members of the Asia-Pacific Economic Cooperation (APEC).

At the APEC Ministerial Meeting, Romulo said he would convey recent developments in the Philippines and share experiences, concerns and key positions on events and issues that affected the nation's and region's interests.

Romulo said that as an archipelago, the Philippines remained vulnerable to the effects of climate change despite efforts to protect the environment.

He said that sudden weather changes and the devastating effects of more frequent and powerful typhoons affected environments, drastically altered the lives of people and brought economic activity to a standstill.

"We have much at stake in ensuring that coordinated efforts in the region and beyond are made to mitigate and adapt to climate change. We can look into opportunities for greater cooperation in this area," he said.

Romulo said he would stress that growth and development did not have to be achieved at cost to the environment, the bedrock of all economies.

He said he would continue to encourage the revival of the Doha Development Round of world trade talks.

He said the multilateral trading system can and should be harnessed to benefit both the developing and developed economies.

Lastly, Romulo will call for a review of critical human security issues, including the need to increase capabilities of APEC countries to combat terrorism and respond to threats to public health.

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Re: Q3 2007: The Philippine Peso and The Philippine Stock Exchange
« Reply #13 on: September 05, 2007, 08:50:09 PM »
Forex reserves to surpass target
By Des Ferriols
Wednesday, September 5, 2007


With the country’s gross international reserves (GIR) already hitting the $30-billion level this year, Bangko Sentral ng Pilipinas (BSP) officials said the forex reserves will surpass the projected medium term level of $25 to $30 billion.

BSP Governor Amando M. Tetangco Jr. had projected that over the medium term, the country’s GIR could go up to as high as $30 billion over the next five years, providing ample cushion against market volatility that threaten vulnerable emerging economies.

However, Tetangco said that since the GIR is already hitting this level this early, there is a possibility that the forex reserves would surpass the $30-billion mark.

Although the country’s reserve was not nearly as large as the major markets in the region, Tetangco said it was on a trajectory that would bring the total stock to more than $30 billion over the medium term.

Tetangco said the projection is consistent with the expected expansion in foreign exchange requirements of an expanding economy with brisk exports and steady inflow from overseas Filipino workers (OFWs).

“This is assuming that we would stay in the current trajectory of macro-economic fundamentals,” Tetangco said. “It would not be difficult to see that our reserves would continue to expand in that case.”

At present, the country’s GIR is already at record levels, amounting to over $30 billion and the BSP expressed confidence that this was enough reserves to weather the fallout from the subprime crisis in the US.

Tetangco earlier said the build-up of the reserves over the medium term would support the expansion of the economy.

“The bigger the economy, the higher the reserves that we have to build up,” Tetangco said. “When you are on an expansion path, building that up would just be the natural result of economic expansion if it is well-grounded on strong fundamentals.”

The BSP said earlier that although it was also costly to hold on to high reserve levels, a higher foreign exchange stock would provide an even bigger safety net against market volatility.

One of the basic principles in reserve management, according to BSP officials, was that no reserve was too big. Although it could be costly to hold so much reserve the dangers were bigger if there was not enough.

“The accumulation of reserves is a form of insurance against factors that are largely unexpected,” said the BSP. “Since our fundamentals are good at this point, having ample reserves would give us enough cushion and we have tended to avoid further depreciation of our currency.”

Tetangco for his part said that inflows from overseas Filipinos and investments would sustain the country’s balance of payments surplus, possibly at record levels.

Because of strong inflows, the BSP had upgraded its 2007 projections and indicated that the country’s balance of payments surplus could reach a record high of $6.313 billion this year.

According to Tetangco, there were indications that economic activity over the next few years would be able to sustain this trajectory based on the momentum of the past two years.

“I think we’ll continue to realize balance of payment surpluses, maybe not as high as what we’re expecting this year, but there is a momentum,” Tetangco said.


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Re: Q3 2007: The Philippine Peso and The Philippine Stock Exchange
« Reply #14 on: September 08, 2007, 01:29:30 PM »
stocks climb to 3333.0 (.19%) despite being in the negative territory for most of the trading day.

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Re: Q3 2007: The Philippine Peso and The Philippine Stock Exchange
« Reply #15 on: September 25, 2007, 09:46:56 AM »
3rd Quarter 2007

THE PHILIPPINE PESO

Week 1:
July 2, 2007 P45.905 (+ P0.335)
July 3, 2007 P45.83 (+ P0.075)
July 4, 2007 P46.06 (- P0.23)
July 5, 2007 P46.17 (- P0.11)
July 6, 2007 P46.08 (+P0.09)

Week 2:
July 9, 2007 P46.00 (+ P0.08)
July 10, 2007 P45.95 (+ P0.05)
July 11, 2007 P46.21 (- P0.26)
July 12, 2007 P45.98 (+ P0.23)
July 13, 2007 P45.75 (+ P0.23)

Week 3:
July 16, 2007 P45.55 (+ P0.20)
July 17, 2007 P45.25 (+ P0.30)
July 18, 2007 P45.28 (- P0.03)
July 19, 2007 P45.00 (+ P0.28)
July 20, 2007 P44.80 (+ P0.20)

Week 4:
July 23, 2007 P44.81 (- P0.01)
July 24, 2007 P44.82 (- P0.01)
July 25, 2007 P45.06 (- P0.24)
July 26, 2007 P45.325 (- P0.265)
July 27, 2007 P45.72 (- P0.395)

Week 5:
July 30, 2007 P45.49 (- P0.23)
July 31, 2007 P45.34 (+ P0.15)
August 1, 2007 P45.83 (- P0.49)
August 2, 2007 P45.84 (- P0.01)
August 3, 2007 P45.46 (+ P0.38)

Week 6:
August 6, 2007 P45.455 (+ P0.005)
August 7, 2007 P45.43 (- P0.025)
August 8, 2007 P45.18 (+ P0.25)
August 9, 2007 P45.36 (- P0.18)
August 10, 2007 P45.74 (- P0.38)

Week 7:
August 13, 2007 P45.64 (+ P0.10)
August 14, 2007 P45.83 (- P0.19)
August 15, 2007 P46.23 (- P0.40)
August 16, 2007 P46.43 (- P0.20)
August 17, 2007 P46.85 (- P0.42)

Week 8:
August 20, 2007 Special Non-Working Holiday
August 21, 2007 P46.90 (- P0.05)
August 22, 2007 P46.47 (+ P0.43)
August 23, 2007 P46.64 (- P0.17)
August 24, 2007 P46.70 (- P0.04)

Week 9:
August 27, 2007 Special Non-Working Holiday
August 28, 2007 P46.71 (- P0.01)
August 29, 2007 P46.83 (- P0.12)
August 30, 2007 P46.84 (- P0.01)

Week 10:
September 3, 2007 P46.57 (+ P0.02)
September 4, 2007 P46.78 (- P0.21)
September 5, 2007 P46.64 (+ P0.14)
September 6, 2007 P46.57 (+ P0.07)
September 7, 2007 P46.53 (+ P0.04)

Week 11:
September 10, 2007 P46.70 (- P0.17)
September 11, 2007 P47.12 (- P0.42)
September 12, 2007 P46.71 (+ P0.41)
September 13, 2007 P46.47 (+ P0.24)
September 14, 2007 P46.30 (+ P0.17)


September 17, 2007 P46.39 (- P0.09)
September 18, 2007 P46.13 (+ P0.26)
September 19, 2007 P45.57 (+ P0.56)
September 20, 2007 P45.33 (+ P0.24)
September 21, 2007 P45.31 (+ P0.02)

Week 13:
September 24, 2007 P45.155 (+ P0.155)
September 25, 2007 P45.38 (- P0.225)
September 26, 2007 P45.17 (+ P0.21)
September 27, 2007 P45.01 (+ P0.16)
September 28, 2007 P45.04 (- P0.03)


The trend: + (33); - (30); = (0)


THE PHILIPPINE STOCK EXCHANGE

Week 1:
July 2, 2007 3,691.68 (+ 26.45)
July 3, 2007 3,751.99 (+ 60.31)
July 4, 2007 3,731.66 (- 20.33)
July 5, 2007 3,802.32 (+ 70.66)
July 6, 2007 3,758.84 (- 43.48)

Week 2:
July 9, 2007 3,744.05 (- 14.79)
July 10, 2007 3,720.96 (- 23.09)
July 11, 2007 3,704.22 (-16.74)
July 12, 2007 3,756.75 (+ 52.53)
July 13, 2007 3,786.02 (+29.27)

Week 3:
July 16, 2007 3,753.26 (- 32.76)
July 17, 2007 3,729.68 (- 23.58)
July 18, 2007 3,734.80 (+ 5.12)
July 19, 2007 3,702.91 (- 31.89)
July 20, 2007 3,738.28 (+ 35.37)

Week 4:
July 23, 2007 3,737.79 (- 0.49)
July 24, 2007 3,706.24 (- 31.55)
July 25, 2007 3,645.51 - 60.73)
July 26, 2007 3,659.48 (+ 13.97)
July 27, 2007 3,518.56 (- 140.92)

Week 5:
July 30, 2007 3,467.46 (- 51.10)
July 31, 2007 3,501.20 (+ 33.74)
August 1, 2007 3,426.45 (- 74.75)
August 2, 2007 3,359.02 (- 67.43)
August 3, 2007 3,352.24 (- 6.78)

Week 6:
August 6, 2007 3,256.99 (- 95.25)
August 7, 2007 3,348.34 (+ 91.35)
August 8, 2007 3,375.91 (+ 27.57)
August 9, 2007 3,385.20 (+ 9.29)
August 10, 2007 3,281.96 (- 103.24)

Week 7:
August 13, 2007 3,267.03 (- 14.93)
[August 14, 2007 3,263.56 (- 3.47)
August 15, 2007 3,130.34 (- 133.22)
August 16, 2007 2,942.31 (- 188.03)
August 17, 2007 2,884.34 (- 57.97)

Week 8:
August 20, 2007 Special Non-Working Holiday
August 21, 2007 3,167.52 (+ 283.18)
August 22, 2007 3,139.46 (- 28.06)
August 23, 2007 3,229.15 (+ 89.69)
August 24, 2007 3,206.94 (- 22.21)

Week 9:
August 27, 2007 Special Non-Working Holiday
August 28, 2007 3,251.77 (+ 44.83)
August 29, 2007 3,209.53 (- 42.24)
August 30, 2007 3,320.34 (+ 110.81)
August 31, 2007 3,365.29 (+ 44.95)

Week 10:
September 3, 2007 3,369.14 (+ 3.85)
September 4, 2007 3,312.30 (- 56.84)
September 5, 2007 3,342.35 (+ 30.05)
September 6, 2007 3,326.53 (- 15.82)
September 7, 2007 3,332.97 (+ 6.44)

Week 11:
September 10, 2007 3,281.08 (- 59.89)
September 11, 2007 3,267.97 (? 13.11)
September 12, 2007 3,307.60 (? 39.63)
September 13, 2007 3,289.22 (? 18.38)
September 14, 2007 3,294.55 (? 5.33


The trend: ? (22); ? (31); = (0)

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Q4 - 2007: The Philippine Peso and The Philippine Stock Exchange
« Reply #16 on: October 02, 2007, 05:05:10 PM »
4th Quarter 2007

THE PHILIPPINE PESO

Week 1:
October 1, 2007 P44.85 (+ P0.19)

The trend: + (1); - (0); = (0)

THE PHILIPPINE STOCK EXCHANGE

Week 1:
October 1, 2007 3,597.92 (+ 25.02)


The trend: + (1); - (0); = (0)

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Re: 2007: The Philippine Peso and The Philippine Stock Exchange
« Reply #17 on: October 02, 2007, 05:19:16 PM »
Peso strengthens further to close at P44.85 vs dollar

By FIL C. SIONIL

The peso strengthened further, rising at an intraday high of P44.845 and closed at p44.85 against the US dollar yesterday, up 19 centavos from the closing rate of P45.04 Friday largely on account of the continuing dollar weakness and the sustained flow of offshore investments into the local equities market.


The attempt of the monetary authorities to temper the appreciation caused the peso to dip to an intraday low of P44.93. But, at the end, such move proved to be "a bit futile" with the local currency closing at P44.85. It opened at P44.90.

Volume was relatively moderate at $ 432 million.

Meanwhile, a major French bank BNP Paribas predicted that the peso will remain strong vis-à-vis the weakening US dollar and could rise up to as much as P37/$ 1 by the end of 2008.

In an outlook reported on Asian currencies, PNB Paribas said: "With a balance of payments (BoP) surplus at record levels and peso yields still offering a decent pick-up over declining US dollar, we rate the peso as one of our key picks for 2008," analyst Chin Loo Thio said. As of August, the country reported a BoP surplus of $ 6.75 billion, exceeding the forecast for the year of $ 6.3 billion.

BNP Paribas expects the peso to close the year at P43 and P41 in the second quarter next year. By 2009 they forecast the peso to range around the P30 level: $ 1

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Re: 2007: The Philippine Peso and The Philippine Stock Exchange
« Reply #18 on: October 04, 2007, 07:18:51 PM »
4th Quarter 2007

THE PHILIPPINE PESO

Week 1:
October 1, 2007 P44.85 (+ P0.19)
October 2, 2007 P44.915 (- P0.065)
October 3, 2007 P45.14 (- P0.225)

The trend: + (1); - (2); = (0)

THE PHILIPPINE STOCK EXCHANGE

Week 1:
October 1, 2007 3,597.92 (+ 25.02)
October 2, 2007 3,677.19 (+ 79.27)
October 3, 2007 3,769.82 (+ 92.63)


The trend: + (3); - (0); = (0)


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Re: 2007: The Philippine Peso and The Philippine Stock Exchange
« Reply #19 on: October 08, 2007, 06:02:59 PM »
4th Quarter 2007

THE PHILIPPINE PESO

Week 1:
October 1, 2007 P44.85 (+ P0.19)
October 2, 2007 P44.915 (- P0.065)
October 3, 2007 P45.14 (- P0.225)
October 4, 2007 P44.95 (+ P0.19)
October 5, 2007 P44.75 (+ P0.20)

The trend: + (3); -(2); = (0)

THE PHILIPPINE STOCK EXCHANGE

Week 1:
October 1, 2007 3,597.92 (+ 25.02)
October 2, 2007 3,677.19 (+ 79.27)
October 3, 2007 3,769.82 (+ 92.63)
October 4, 2007 3,775.46 (+ 5.64)
October 5, 2007 3,775.91 (+ 0.41)


The trend: + (5); - (0); = (0)


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Re: 2007: The Philippine Peso and The Philippine Stock Exchange
« Reply #20 on: October 08, 2007, 06:05:12 PM »
RP stocks hit new all-time high; peso at highest in 7 yrshttp://www.abs-cbnnews.com/topoftheh...?StoryId=95050
By JUDITH BALEA

Philippine financial markets hit fresh record levels on Monday on expectations that companies will report strong third-quarter profits and that the economy will continue to post solid growth.

Analysts said stock market investors also tracked the gains on Wall Street Friday after the United States reported strong jobs data for September.

At 10:32 a.m., the benchmark Philippine Stock Exchange composite index (PSEi) had risen 2.76 percent, or 104.14 points, to 3,880.05, a fresh all-time intraday high.

That was above the PSEi's prior all-time intraday high of 3,820.55 points hit on July 13.

The peso also hit a seven-year high of 44.40 on Monday on continued foreign exchange inflows from overseas investors.

"The US employment data turned out positive and market-friendly, pushing the Dow. The local market tracked gains on Wall Street," said Jose Vistan, AB Capital Securities research head.

Among blue chips, index heavyweight PLDT was up P170 or 5.48 percent at P3,270, a new all-time intraday high.

Its mobile affiliate Pilipino Telephone Corp. (Piltel) was up P0.30 or 4 percent at P7.80, near its record level of P7.90 that was hit on Feb. 26.

Leading conglomerate Ayala Corp. was up P20 or 3.48 percent at P595

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Re: 2007: The Philippine Peso and The Philippine Stock Exchange
« Reply #21 on: October 12, 2007, 06:25:40 AM »
4th Quarter 2007

THE PHILIPPINE PESO


Week 1:
October 1, 2007 P44.85 (+ P0.19)
October 2, 2007 P44.915 (- P0.065)
October 3, 2007 P45.14 (- P0.225)
October 4, 2007 P44.95 (+ P0.19)
October 5, 2007 P44.75 (+ P0.20)

Week 2:
October 8, 2007 P44.35 (+ P0.40)
October 9, 2007 P44.31 (+ P0.04)
October 10, 2007 P44.15 (+ P0.16)

The trend: + (6); - (2); = (0)

THE PHILIPPINE STOCK EXCHANGE

Week 1:
October 1, 2007 3,597.92 (+ 25.02)
October 2, 2007 3,677.19 (+ 79.27)
October 3, 2007 3,769.82 (+ 92.63)
October 4, 2007 3,775.46 (+ 5.64)
October 5, 2007 3,775.91 (+ 0.41)

Week 2:
October 8, 2007 3,873.50 (+ 97.59)
October 9, 2007 3,776.00 (- 97.50)
October 10, 2007 3,834.71 (+ 58.71)

The trend: + (7); - (1); = (0)


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Re: 2007: The Philippine Peso and The Philippine Stock Exchange
« Reply #22 on: October 19, 2007, 11:27:30 AM »
4th Quarter 2007

THE PHILIPPINE PESO

Week 1:
October 1, 2007 P44.85 (+ P0.19)
October 2, 2007 P44.915 (- P0.065)
October 3, 2007 P45.14 (- P0.225)
October 4, 2007 P44.95 (+ P0.19)
October 5, 2007 P44.75 (+ P0.20)

Week 2:
October 8, 2007 P44.35 (+ P0.40)
October 9, 2007 P44.31 (+ P0.04)
October 10, 2007 P44.15 (+ P0.16)
October 11, 2007 P44.05 (+ P0.10)
October 12, 2007 Non-Working Holiday

Week 3:
October 15, 2007 P44.05 (=)
October 16, 2007 P44.34 (- P0.29)
October 17, 2007 P44.16 (+ P0.18)

The trend: + (8); - (3); = (1)

THE PHILIPPINE STOCK EXCHANGE

Week 1:
October 1, 2007 3,597.92 (+ 25.02)
October 2, 2007 3,677.19 (+ 79.27)
October 3, 2007 3,769.82 (+ 92.63)
October 4, 2007 3,775.46 (+ 5.64)
October 5, 2007 3,775.91 (+ 0.41)

Week 2:
October 8, 2007 3,873.50 (+ 97.59)
October 9, 2007 3,776.00 (- 97.50)
October 10, 2007 3,834.71 (+ 58.71)
October 11, 2007 3,824.20 (- 10.51)
October 12, 2007 Non-Working Holiday

Week 3:
October 15, 2007 3,861.38 (+ 37.18)
October 16, 2007 3,815.22 (- 46.16)
October 17, 2007 3,760.04 (- 55.18)


The trend: + (8); - (4); = (0)

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Re: 2007: The Philippine Peso and The Philippine Stock Exchange
« Reply #23 on: October 19, 2007, 11:57:45 AM »
Can you please explain the data you posted here, Gervistill?  This seems to be your forte.  What do you think is benificial to the Filipinos as whole?  Having a strong peso is supposed to be better for the Philippine economy, or am I wrong?  How volatile is our economy? Do you think there's just a window dressing in our economy as alleged by many?  But if that's the case, it's been quite awhile and how can the Philippine economy keep up with that "show"?  Maybe you can enlighten me, Gervistill.  Thanks a lot!

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Re: 2007: The Philippine Peso and The Philippine Stock Exchange
« Reply #24 on: October 20, 2007, 12:48:32 AM »
Its only an updated data / trends for peso & stock, which two third of the population don’t care.  Positive trend for stock means were moving towards economic stability.
 
strong peso is not the barometer of good economy ..it’s the stock.

You mean strong peso “economic showing?” maybe not..may BSP intervention pa nga.. for the sake of exporter businessmen.


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Re: 2007: The Philippine Peso and The Philippine Stock Exchange
« Reply #25 on: October 20, 2007, 01:51:28 AM »
I understand that the peso's strength is not entirely the barometer of a good economy that it has bearing, right?  in a layman's mind, strong peso is better than weak peso thereby connoting that our economy is better when the peso is strong.

I meant the window dressing of our economy or maybe that's the same as BSP intervention - meaning to sugar coat our peso, yes, one is for the sake of our exporter. That was just the speculation of some people those who didn't really delve into the data.  But on the other hand, how can the BSP intervene when there are a lot of factors affecting the rise and fall of peso?  hmmm, i need economic 101!

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