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Get Full Essay Get access to this section to get all help you need with your essay and educational issues. Get Access Philippine Peso Essay Sample Compared to the Thai Baht, whose value was approximately equal to the Philippine Peso beforenow, its exchange rate had likewise diminished, but only up to Bh On the other hand, another Asian neighbor, Japan, had shown gradual appreciation of its currency from P 0.
What are the factors for these discrepancies? And what are the causes that brought the gradual decline of the Philippine Peso? According to official sources, the Philippines first experienced devaluation of its currency in when the United States was undergoing the worst economic crisis in history — the Great Depression.
Then, on November 8,the International Monetary Fund officially reduced the gold contents of the peso by half, thereby depreciating its value to P 3. In order to save itself from bankruptcy, the government had to buoy itself up by seeking loans for loans about to mature by the end of The government did, and in so doing, in effect, surrendered its monetary sovereignty to the International Monetary Fund from which it sought and got a third tranche, or a loan to cover a previous loan about to mature then.
This created an increase in the prices of imported goods, and locally produced goods with imported components. Eventually, by Junethe Central Bank devalued the peso to P After four months, on October 5,the peso was further devaluated with a rate of P There was no clear cause as to the devaluation of the peso from P Called the Black Monday, a fall in stock market prices in the United States on October 29, created turbulences in the world capital markets.
It triggered a financial crisis around the world including London and Tokyo. The recent P These are just the direct explanations as to why the value of the peso is gradually depreciating.
However, there are still some underlying factors that had brought about these events. The Philippine peso has been trading at a four year high for the past few days, with the local currency opening today at P Economic, Effects, Foreign, Exchange Words: This paper enumerates the advantages and disadvantages of having a strong Peso.
The paper also discusses what factors affect the strengthening and weakening of the Philippine Peso. This paper also includes an in depth analysis of how the foreign exchange could affect and gets affected by the economy, the society and politics.
There are two cases on how an exchanged rate would be determined the first system is the free floating exchange rate where the supply and demand force of the market is the index and the other system is the fixed exchange rate given directly by Bangko Sentral ng Pilipinas.
In the cases when the demand and supply is not stable, the BSP has the authority to enter and provide guidance in the market to prevent the volatility effects in the exchange rate fluctuations that affects inflation.
They also fixed firmly the demands for foreign currency by providing liquidity when required. This system applied in the Philippines is consistent with its goal to aim external competitiveness through market efficiency.
Peso appreciation provides numerous benefits on our economy like lowering inflationary expectations or pressures and added additional savings resulted from foreign debt servicing but it also negatively affects the export market and the beneficiaries of the remittances given by the OFW.
The peso continues to struggle in the year but compared to it appreciated by 1. The factors that affect the peso and help increase the standing of our economy are the remittances by the Overseas Filipino Workers on different countries around the world.
The increase level of foreign investors who are willing to give up their money to establish business in the Philippines due to high level, confidence given to our government by the new policies implemented RVAT is also one of the strong factors that affects peso.evat essays buying my first car narrative essay gmat essay examples answers autocad business plan kny essay attitude it changes everything communications topics essays julius caesar essay topics Death and Life in the Book of Ecclesiastes.
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Uploaded by. Philippine Peso Essay Sample. Compared to the Thai Baht, whose value was approximately equal to the Philippine Peso before , now, its exchange rate had likewise diminished, but only up to Bh to the US dollar, as against our P per dollar. Essay about desiderata poem click to continue the strange situation was devised in order to measure and test the nature of.
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