PHILIPPINE FOREIGN EXCHANGE NEWS & INFORMATION
Thursday, January 08, 2009
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LATEST PHILIPPINE FOREIGN EXCHANGE NEWS:

Philippine foreign reserves hit 37-bln-USD at 2008 year end
The Philippines' gross international reserves reached 37.1 billion U.S. dollars at the end of 2008, slightly higher than the 2007 yearend level of 33.8 billion U.S. dollars, the central bank said Wednesday. The central bank said the annual increase in the foreign reserves level in 2008 was attributed mainly to inflows from the bank's foreign exchange operations and income from its investments ...

Philippine Central Bank Expects Slower Remittance Growth In '09
MANILA -(Dow Jones)- Growth in overseas workers' remittances, a pillar of the Philippine economy, will slow this year after a heady increase last year, due to the global economic downturn, a senior central bank official said Thursday.

Yen, Philippine Peso, Malaysian Ringgit: Asian Currency Preview
Jan. 7 (Bloomberg) -- The following events and economic reports may influence trading in Asian currencies today. Exchange rates are from the previous session.

RP gov't to stage 3rd attempt to extract Filipinos from Gaza strip
MANILA, Jan. 8 (PNA) -- The Philippine government will again make an attempt to move the 108 Filipinos trapped in the ongoing conflict in the Hamas-ruled Gaza strip Thursday as ground assault by Israeli forces continues unabated, the Department of Foreign Affairs said.

RP dollar bond sale to cover foreign debt needs
The Philippines yesterday moved to corner yield-seeking investors, launching a dollar-denominated bond offer that could raise some $1.5 billion and cover its entire foreign borrowing needs for the year.

Bond sale proceeds increase Philippine dollar reserves
MANILA, Philippines - The Philippines" dollar reserves increased as of end-December last year after the central bank earned from its foreign investments and the national government deposited proceeds from its bond sale.

Govt completes foreign borrowing
The government has completed its external funding requirement for this year after launching its global bond offering on Wednesday. In a statement, Finance Secretary Margarito Teves announced on Thursday that the government has raised $1.5 billion through a global bond offering.