Peso weakens as new coronavirus cases spike bworldonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bworldonline.com Daily Mail and Mail on Sunday newspapers.
Foreign direct investments yield net inflow in October 2020 By TED CORDERO, GMA News
Published January 8, 2021 6:24pm Foreign direct investments (FDI) yielded a net inflow in October 2020, but posted a double-digit decline year-on-year, posting its second straight month of contraction after four consecutive months of growth, data released by the Bangko Sentral ng Pilipinas (BSP) showed. Central bank data showed that FDI investments by foreign firms and individuals in the Philippines posted a net inflow of $423 million, down 24.5% from the $561 million net inflow in October 2020. An FDI net inflow indicates that the value of inward investments by non-residents or those that entered the country surpassed the value of those that exited the country.
November trade deficit narrowest since June bworldonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bworldonline.com Daily Mail and Mail on Sunday newspapers.
January 4, 2021 | 12:04 am Font Size
MARA RIVERA/UNSPLASH
GOVERNMENT SECURITIES on offer this week may see their yields move sideways at the first auctions of the Bureau of the Treasury (BTr) this year.
The BTr will offer P20 billion in Treasury bills (T-bills) on Monday: P5 billion each in 91- and 182-day debt papers and P10 billion in 364-day securities.
On Tuesday, it is looking to borrow P30 billion via an offer of reissued 10-year Treasury bonds (T-bonds). The notes have a remaining life of four years and eight months and carry a coupon of 3.625%.
A bond trader said via Viber over the weekend that the yields of the T-bills on offer on Monday could move sideways or slightly lower, while the five-year bonds could fetch rates between 2.5% and 2.575% “as the tenor remains attractive for yield pickup.”
January 3, 2021 | 10:05 pm Font Size
BW FILE PHOTO
THE PESO could weaken against the greenback in 2021 to push it back to the P50-per-dollar level as global trade gradually recovers amid easing restriction measures.
The local unit closed at P48.023 per dollar on Dec. 29 the last trading day of 2020 appreciating by P2.612 from its P50.635 finish on Dec. 27, 2019.
The peso’s stronger finish towards the end of the year was on the back of a narrower trade deficit, said Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort.
“Relatively slower recovery in imports that resulted in a narrower trade deficit led to the relatively stronger peso in recent months,” Mr. Ricafort said in a text message.