Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Philippine Peso Falls as Spain Concern Mounts

May 31 (Bloomberg) -- The Philippine peso had its biggest monthly loss since September as Europe’s debt crisis dimmed the allure of higher-yielding assets.

The currency fell for a second day even as government data showed today the nation’s economy expanded 6.4 percent in the three months through March, almost twice as much as it did in the quarter earlier. The Bloomberg-JPMorgan Asia Dollar Index lost 2.7 percent this month after inconclusive elections in Greece prompted speculation the nation might exit the euro.

“When it comes to the foreign-exchange market, global risk sentiment is the overriding determinant,” said Vishnu Varathan, a Singapore-based economist at Mizuho Corporate Bank Ltd. “The peso isn’t going to swim against the tide. To a large extent, an improvement in first-quarter numbers was expected.”

The peso weakened 2.9 percent this month and was little changed today at 43.495 per dollar in Manila, according to Tullett Prebon Plc. One-month implied volatility, a measure of exchange-rate swings used to price options, increased 325 basis points this month and 15 basis points today to 7.75 percent.

The yield on the government’s 5.875 percent bonds due March 2032 increased 14 basis points, or 0.14 percentage point, to 6.05 percent this month, according to prices from Tradition Financial Services. It was unchanged today.

To contact the reporter on this story: Lilian Karunungan in Singapore at

To contact the editor responsible for this story: Sandy Hendry at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.