MANILA, Philippines - The peso exchange rate stands at P42.59 to the US dollar, the closing rate last Friday at the Philippine Dealing & Exchange Corp. (PDEx). The weighted average rate stands at P42.503.
Jan. Money Supply Expands 7.2%
The country's M3 money supply increased 7.2% in January from a year earlier, driven by growth in remittances by overseas workers and portfolio investments, the central bank said Friday. M3 comprises currency in circulation, bank deposits and other deposit substitutes.
Domestic liquidity in January stood at P4.480 trillion compared with P4.179 trillion a year earlier and P4.674 trillion in December, when money supply rose 6.3%, the Bangko Sentral ng Pilipinas said. (Dow Jones)
Contingent Debt Drops To P573.4B
Contingent debt, or debt owed by public corporations and guaranteed by the national government, declined 0.9% to P573.37 billion in December from P578.70 billion in November due to net repayments and bond redemption as well as the depreciation of other currencies against the US dollar, according to the latest data releaed by the Bureau of Treasury.