foreign exchange - updates

Rappler's latest stories on foreign exchange


Swiss regulators fine banks over forex rigging 'cartels'

Jun 06, 2019 - 9:10 PM

Barclays, Citigroup, JPMorgan, MUFG Bank, and Royal Bank of Scotland are hit with fines totaling around $90 million

A logo is picture above a branch of Barclays bank in central London on July 25, 2018. (Photo by Daniel LEAL-OLIVAS / AFP)

Philippine peso breaches P53 to $1 level, falls to 12-year low

Jun 13, 2018 - 4:58 PM

The peso closes at P53.23 to $1, its weakest level since June 2006

Philippines' forex buffer hits 3-year low in April

May 07, 2018 - 6:55 PM

This is dragged by outflows arising from payments made by the national government for its maturing foreign obligations as well as the foreign exchange operations of the central bank

Philippine peso weakest in over 11 years

Feb 14, 2018 - 4:45 PM

(UPDATED) Pressured by a record trade deficit, the local currency closes at P52.12 against the US dollar on Wednesday, February 14, its weakest since July 2006

PH external debt drops by 1.8% to $72.5 billion in Q2 2017

Sep 17, 2017 - 9:20 PM

The end-June 2017 level is also down by $5.2 billion from the same time last year

Pound still struggles as British election sows uncertainty

Jun 13, 2017 - 4:33 PM

On equity markets technology firms were unable to bounce back from the previous day s sell off that was sparked by a rout in the sector on Wall Street Friday June 9

POUND NOTES. In this file photo, an Indian currency exchange worker counts out British pound sterling notes in New Delhi on June 27, 2016. Money Sharma/AFP

PH peso hits new 10-year low of P50.4 to $1

Mar 03, 2017 - 5:10 PM

This is the lowest Philippine peso level against the US dollar since September 12 2006

FOREX. The peso ended trading on Friday, March 3, 2017, at an intraday low of P50.4 to $1 from the previous day's P50.31 to $1. File photo by Agence France-Presse

Philippine peso continues to dip, hits new 10-year low

Feb 27, 2017 - 6:10 PM

The local currency slides to a fresh low again as it braces for another US Federal Reserve rate hike and awaits US President Donald Trump s new policies

FRESH 10-YEAR LOW. On Monday, February 27, Philippine peso opened weaker at P50.24 to $1 and depreciated further to an intraday low of P50.285 to $1. Rappler file photo

Rappler Talk: Bob Herrera-Lim on the peso, worst performing currency

Feb 22, 2017 - 8:22 AM

The Philippine peso remains the worst performing currency in the Asia depreciating by as much as 5 72 this year

Philippine peso now at its weakest in a decade

Feb 20, 2017 - 7:10 PM

The local currency s performance on Monday February 20 is the weakest since the P50 32: 1 level recorded on September 26 2006

WEAKEST. This is Philippine peso's weakest close in a decade. Rappler file photo

Philippine peso hits P50 to the dollar

Nov 24, 2016 - 12:04 PM

3rd UPDATE Economists and government officials say the pace by which the local currency has been weakening against the greenback remains very manageable

A customer counts Philippines peso notes after trading his US dollars for Philippine pesos in Manila on September 8, 2015.  Jay Directo/AFP

Dominguez: Fed rate hike talks mainly caused peso depreciation

Nov 02, 2016 - 7:30 PM

On Wednesday November 2 the Philippine peso slightly strengthens against the US dollar as the greenback weakens on growing concerns over the US elections

Finance Secretary Carlos Dominguez III says that the country's growth momentum, coupled with low inflation rate, stable currency, and strong political leadership of the Duterte administration, has earnestly opened the doors for business with other nations. Photo by King Rodriguez/Presidential Photo

'Hard Brexit' fears push pound to 31-year dollar low

Oct 04, 2016 - 5:39 PM

3rd UPDATE The pound slumps to a 31 year low against the dollar on concerns over the timing of Britain s planned exit from the European Union

An illustrative picture taken in Liverpool on August 17, 2016 shows an arrangement of British 10 and 20 pound bank notes and 1 and 2 pound coins. Paul Ellis/AFP

Clinton vs Trump, Duterte, vs Abu Sayyaf, Philippine peso drop | 12PM wRap

Sep 27, 2016 - 12:31 PM

Watch the 12PM wRap with Maria Ressa

Peso hits 7-year low vs US dollar

Sep 26, 2016 - 7:00 PM

The Philippine peso closes at P48 25 to 1 on Monday September 26 amid domestic and global uncertainty

BSP eases forex limits for consumers, corporations

Sep 15, 2016 - 12:30 PM

The new regulations lift the cap on foreign currency that can be purchased without supporting documents to 500 000 for individuals and 1 million for firms among others

PH foreign reserves hit record high of $85.9B in August

Sep 08, 2016 - 4:15 PM

The country s gross international reserves are up by 390 million from their July level due to income from the government s forex operations and income from investments abroad

HSBC sees peso improving to P45 to $1 by end-2016

Aug 23, 2016 - 7:21 PM

The Philippines is in a good position to attract more foreign investments this year according to HSBC s latest foreign exchange report

Emerging currencies up as post-Brexit shock fades

Jul 04, 2016 - 1:59 PM

Rising crude prices boosted the oil linked Malaysian ringgit with the Thai baht Indian rupee Philippine peso and Indonesian rupiah all advancing as appetite for riskier investments picked up

A man stands outside a foreign exchange outlet in Hong Kong on June 28, 2016. Anthony Wallace/AFP

China cuts yuan fix in biggest move since devaluation

Jun 27, 2016 - 1:45 PM

The People s Bank of China sets the value of the yuan at 6 6375 to the dollar the lowest level since December 23 2010

epa04879688 A Chinese fruit vendor shows her store earnings in various denominations of the Chinese Yuan, or Renminbi, currency in Beijing, China, 11 August 2015. The yuan has sunk to the lowest trading price in a decade after China's central bank devalued the currency on 11 August to aid a slowing economy. The People's Bank of China set the daily mid-point yuan trading price a record 1.9 per cent weaker at 6.2298 to the US dollar. EPA/ROLEX DELA PENA

Philippine stocks, peso fall on Brexit victory

Jun 24, 2016 - 5:41 PM

Stock analysts say local and foreign investors cash in gains as they were surprised by the decision

RISK AVERSION. Philippine stocks were offloaded as risk off sentiment dominated in reaction to the Brexit

Pound plunges, stock markets in turmoil on Brexit vote

Jun 24, 2016 - 11:31 AM

UPDATED Sterling hit a 31 year low crashing 10 to 1 3229 at one point and the euro also plummeted against the US currency

A close-up of a mixture of British five, ten and twenty pound notes in London, Britain, September 8, 2014. Andy Rain/EPA

PH foreign reserves hit two-year high of $83.47B in April

May 06, 2016 - 10:20 PM

Gross international reserves rise by almost 500 million from March on the back of increases in gold and income from the government s investments abroad

PH external debt rises to $77.5 billion as of end-2015

Mar 21, 2016 - 8:50 PM

Despite the increase key external debt indicators remain at comfortable levels at the close of the year says the BSP

China forex reserves fall almost $100B in January

Feb 07, 2016 - 8:42 PM

The world’s largest currency hoard shrank by 99 5 billion in January to some 3 2 trillion

PH foreign exchange reserves up in December

Jan 07, 2016 - 7:15 PM

The government s net foreign currency deposits BSP s forex operations and income from investments abroad contribute to the rise in reserves

AMPLE. The end-December gross international reserves level remains ample as it can cover 10.3 months’ worth of imports of goods and payments of services and income, the Bangko Sentral ng Pilipinas says. File photo by Agence France-Presse

PH peso to weaken P48.80:$1 in 2016 – ING Bank

Jan 05, 2016 - 3:00 PM

The peso is seen to depreciate further by 3 4 this year after shedding 5 2 against the greenback in 2015 an economist from ING Bank Manila says

FORECAST. ING Bank Manila's exchange rate forecast is more bearish than the consensus of Bloomberg that expects the Philippine peso weakening by 1.8% to P47.90 to $1 in 2016.

PH foreign exchange reserves down in November

Dec 07, 2015 - 7:00 PM

Following a record high in October gross international reserves decline due to higher foreign debt payments and lower gold prices in the world market

LOWER. BSP Governor Amando Tetangco Jr. says the country’s foreign exchange reserves reached $80.57 billion in end-November or $525 million lower compared to $81.09 billion in October. File photo by Agence France-Presse

PH foreign exchange reserves rise anew in October

Nov 07, 2015 - 1:16 PM

Last month s gross international reserves record is the highest since December 2013 BSP reports

AMPLE RESERVES. The end-October GIR level remains ample as it can cover 10.4 months’ worth of imports of goods and payments of services and income, the central bank says. File photo by Agence France-Presse

PH peso pierces back to P45:$1 level

Oct 09, 2015 - 8:04 PM

PH peso closes at P45 87 to 1 October 9 the first time in nearly 2 months since the yuan devaluation and imminent US Fed interest rate hike

The Philippne peso on Friday, October 9 gained 24 centavos and pierced the P45 to $1 level. Stitched images from Shutterstock

PH foreign exchange reserves pick up in September

Oct 07, 2015 - 4:35 PM

The slight uptick is traced to BSP’s foreign exchange operations and its income from investments abroad as well as the national government’s net foreign currency deposits

RESERVES AMPLE. The end-September Gross International Reserves level remains ample as it can cover 10.3 months’ worth of imports of goods and payments of services and income, central bank's Diwa Guinigundo says. File photo

PH external debt falls first half of 2015

Sep 18, 2015 - 9:00 PM

The central bank chief traces the decline to negative foreign exchange revaluation adjustments amounting to 2 6 billion as the US economy continues to gradually recover

LOWER. Bangko Sentral ng Pilipinas (BSP) Governor Amando Tetangco Jr. says on Friday, September 18 that the country’s external debt reached $75 billion from January to June this year – $3.6 billion lower compared to $78.59 billion in the same period in 2014. Photo from the Bangko Sentral ng Pilipinas

PH peso likely to breach P47:$1

Aug 26, 2015 - 7:32 PM

The local currency could head toward P47 40 to P47 50 in the absence of global response to emerging markets risks and stability an analyst says

For the 7th time, BSP chief hailed one of the world's top central bankers

Aug 25, 2015 - 7:10 PM

Amando Tetangco Jr has been graded A by NY based Global Finance magazine along with 7 other central bank chiefs worldwide

 Photo from Bangko Sentral ng Pilipinas

PH stock exchange records longest trading halt

Aug 25, 2015 - 3:36 PM

2nd UPDATE The local bourse halts trading for about 5 hours due to technical issues and clarifies it has nothing to do with the drop in Philippine stocks

China cuts yuan rate more than 1% against dollar

Aug 13, 2015 - 2:27 PM

The central bank puts the yuan s central parity rate at 6 4010 yuan for 1 0 the China Foreign Exchange Trade System says a drop of 1 11 from the previous day s 6 3306

DEVALUED. A teller counts yuan banknotes in a bank in Lianyungang, east China's Jiangsu province on August 11, 2015. AFP photo

Weak peso hits San Miguel's H1 2015 profit

Aug 12, 2015 - 4:28 PM

The 125 year old conglomerate says it took a P1 1 billion hit from currency movements compared to the same period last year

China further devalues yuan

Aug 12, 2015 - 10:03 AM

China cuts the value of the yuan against the dollar by 1 62 the second reduction in two days

FURTHER DEVALUED. This file picture taken on September 24, 2013 shows Chinese 100-yuan (RMB) bank notes being counted at a bank in Huaibei, in eastern China's Anhui province. AFP file photo

PH foreign exchange reserves slip in July

Aug 08, 2015 - 3:00 PM

The central bank expects the Philippines to end the year with about 81 6 billion in dollar reserves

INCREASE. Money pumped by foreign investors to the country reached $6.2 billion in 2014, a 65.9% increase from 2013’s $6.7 billion, the Bangko Sentral ng Pilipinas  reports Tuesday, March 10, 2015. File photo by Agence France-Presse

US, Britain fine 6 top banks nearly $6B for forex, Libor abuses

May 20, 2015 - 4:58 PM

UPDATED US UK regulators say forex traders from the banks had met in online chatroom groups to set rates that cheated customers while adding to their own profits

FOREX RATES. Pedestrians are reflected on a window of a bank as it displays the foreign exchange rates in New York on February 5, 2015. Jewel Samad/AFP

Exports to slow as peso appreciates against euro and yen

Mar 14, 2015 - 11:35 PM

The country’s strong growth story is mainly responsible for the stronger peso says Trade Secretary Gregory Domingo

Where to invest in 2015

Jan 03, 2015 - 11:50 AM

The Personal Equity Retirement Account’s implementation this 2015 should encourage more Filipinos to invest along with picking the ‘best’ investment options for them

Dollar gains on euro after strong US data

Dec 27, 2014 - 7:57 AM

The US dollar also advances modestly against the Swiss franc and the British pound while retreating a bit against the yen after Christmas

Image courtesy of Shutterstock

Dollar gives up US GDP data gains in Asia

Dec 25, 2014 - 3:00 PM

The dollar will continue to lack the momentum to test its upside says Mizuho Securities FX strategist Kenji Yoshii

BSP amends rules on thrift banks’ FX forwards activities

Nov 26, 2014 - 3:46 PM

The Monetary Board also approves amendments to rules to explicitly recognize the authority of thrift rural and cooperative banks to buy and sell foreign exchange

JPMorgan under US criminal probe on forex trade

Nov 04, 2014 - 7:17 AM

UPDATED JPMorgan says it is cooperating with the DOJ probe and with other US and foreign investigations related to the forex trade

The JPMorgan Chase headquarters stands in Midtown Manhattan on January 8, 2014 in New York City. John Moore/Getty Images/AFP

HSBC sets aside $378M for fine over forex scandal

Nov 03, 2014 - 11:05 PM

The Asia focused lender sets aside the amount for a potential fine in Britain to settle allegations of foreign exchange market rigging as it posted mixed third quarter earnings

World stocks plunge on global economic jitters

Oct 15, 2014 - 11:15 PM

European equities tumble while Asian stock markets rise

Hong Kong finance chief warns city's reputation at risk

Oct 03, 2014 - 11:23 PM

A slip in confidence in Hong Kong s financial sphere would bring permanent damage that we could not afford the finance chief says

PH imports forecasts raised, exchange rate adjusted

Jun 21, 2014 - 2:03 PM

Despite revisions the growth target for 2014 is still attainable the NEDA chief says

ADJUSTED. Pressure from imports prompted adjustment to the exchange rate from P41 to 44 to P42 to 45 for the year until 2016. File photo by AFP