Skip to content

Philippines Today

home of the Global Filipino

Menu
  • News Stories
  • Regional News
  • Business & Economy
  • Science & Technology
  • International
Menu

Tetangco expects markets to factor in PHL macrofundamentals vis-à-vis assessment on currencies

Posted on August 11, 2015

By Joann Santiago

MANILA, Aug. 11 (PNA) — The Philippines’ improved macrofundamentals are seen to be likely considered by markets on their assessment of the local currency’s position against other units.

This, after Asian currencies posted across-the-board deprecation Tuesday following the People’s Bank of China’s (PBoC) decision to further devalue the yuan by nearly two percent to help buoy the world’s second largest economy.

The peso shed Php0.17 against the dollar and ended Tuesday at Php45.93 but Bangko Sentral ng Pilipinas (BSP) Governor Amando Tetangco Jr. said the general weakening of Asian currencies is as expected.

He, however, pointed out that if the adjustment in the yuan proved effective in boosting China’s exports in the near-term “that could help sustain regional trade and in turn help support global growth.”

”The peso will continue to be affected by external developments, such as this, but market participants are also expected to put weight on the country’s sound macrofundamentals,” he added.

Relatively, Bank of the Philippine Island (BPI) lead economist Emilio Neri Jr. said markets were taken aback by the PBoC’s decision.

He said Chinese monetary officials’ decision may spiral to the rest of the region.

“We will continue to outperform but it will still be a depreciation like the rest. But it will not be as much as the others,” he added. (PNA)

Share this:

  • Facebook
  • Twitter
  • LinkedIn
  • Pinterest
  • More
  • Tumblr
  • Reddit

Related

News Categories

  • Announcement (34)
  • Business & Economy (1,567)
  • Comment and Opinion (74)
    • Random Thoughts (18)
  • Current Issues (425)
    • Charter Change (1)
    • Election (228)
    • Population (6)
  • International (389)
  • Life In Japan (66)
    • Everything Japan (41)
  • Literary (34)
  • Miscellaneous (610)
  • News Stories (5,312)
  • OFW Corner (297)
  • Others (75)
  • People (408)
  • Press Releases (163)
  • Regional News (3,362)
  • Science and Technology (502)
  • Sports & Entertainment (287)

Latest News

  • BSP keeps policy rates anew December 17, 2015
  • NEDA cuts PHL additional rice import for 2016 by 25% December 17, 2015
  • DA cites serious implications of banning genetically modified products December 17, 2015
  • BBL is not yet dead – Drilon December 17, 2015
  • Comelec recognizes Duterte’s CoC for president December 17, 2015
  • NEDA chief sees 2015 growth at 6% despite typhoons December 17, 2015
  • House of Representatives ratifies bicam report on P3.002-T national budget for 2016 December 17, 2015
  • Cebu-based developer invests PHP430M to build 709 townhouse units in north Cebu town December 17, 2015
  • City gov’t eyes P75-M income from economic enterprise December 17, 2015
  • Baguio City LGU presents traffic plan for holiday season December 17, 2015

Archives

Meta

  • Log in
  • Entries feed
  • Comments feed
  • WordPress.org

Science and Technology

  • DOST-ICTO targets 500,000 web-based workers from countryside by 2016
  • (Feature) STARBOOKS: A ‘makeover’ for librarians
  • Science, research reduce ‘cocolisap’ hotspot areas in PHL
  • Montejo to further improve PAGASA and empower scientists
  • 1st PPP in biomedical research produces knee replacement system fit for Asians

Press Releases

  • Microsoft to buy Nokia’s mobile devices business for 5.44-B euros
  • New World Bank climate change report should spur SEA and world leaders into action: Greenpeace
  • Save the Philippine Seas before it’s too late — Greenpeace
  • Palanca Awards’ last call for entries
  • Philippines joins the global call for Arctic protection

Comment and Opinion

  • Remembering the dead is a celebration of life
  • Killer earthquake unlikely to hit Panay Island in near future – analyst
  • It’s not just more fun to invest in the Philippines, it is also profitable, says President Aquino
  • How does one differentiate a tamaraw from a carabao?
  • Fun is not just about the place, it is also about the people, says DOT chief

OFW Corner

  • Ebola infection risk low in Croatia
  • Death toll rises to 41, over 100 still missing in landslide in India
  • Asbestos use in construction a labor hazard
  • 500,000 OFWs to benefit POEA on-line transactions — Baldoz
  • 25 distressed OFWs return home from Riyadh
©2025 Philippines Today | Design: Newspaperly WordPress Theme