PH peso is "least volatile" Asian currency, says Central Bank

ABS-CBNNews.com, citing information from the Bangko Sentral ng Pilipinas (BSP), reports that "the Philippine peso remains the least volatile currency in Asia." The report pointed out that the currency has rallied "amid the heightened risk aversion brought about by the weak economic growth in advanced economies led by the U.S. and the sovereign debt crisis in Europe."

ABS-CBNNews.com, citing information from the Bangko Sentral ng Pilipinas (BSP), reports that  "the Philippine peso remains the least volatile currency in Asia." The report pointed out that the currency has rallied "amid the heightened risk aversion brought about by the weak economic growth in advanced economies led by the U.S. and the sovereign debt crisis in Europe."

 

BSP Governor Amando M. Tetangco Jr. disclosed that the Philippine peso has a volatility rate of 1.23 percent followed by the Thai baht at 1.28 percent, the Chinese yuan at 1.34 percent, the Malaysian ringgit at 2.11 percent, Indonesian rupiah at 2.33 percent, the Singaporean dollar at 2.47 percent, and the Japanese yen at 3.13 percent.

 

Tetango said that because the volatility and appreciation of the peso against the US dollar remains healthy, "it allows Filipino businessmen, including exporters and importers, to plan more effectively."

 

For more on this story, log on to ABS-CBNNews.com.

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