By Doris C. Dumlao
The peso might depreciate to the 46 level against the US dollar by this yearend and further to 47 by the end of 2015 due to a “pretty loose” local monetary policy, the bottoming out of US interest rates and some oil price pressures, an economist from Swiss investment bank said.
By Ben O. de Vera
Despite tensions arising from the territorial row between the Philippines and China over a number of isles and rocks lying in the West Philippine Sea, the two countries are eyeing closer ties in the financial markets, officials said Tuesday night.
Local banks are now required to accept “mutilated” paper notes and coins from the public and replace them, according to new banking rules published this month.
Asian stock markets lost ground on Monday, with investors little moved by the G20s weekend commitment to boost global growth by $2 trillion over five years.
The dollar was range bound against other major currencies in Asian trade Monday as investors awaited key US economic data due later this week for clues about the state of the world’s largest economy.