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Article: P/$ rate stands at P40.64/$ 1.(News In Brief)
- Article from:
- Manila Bulletin
- Article date:
- February 26, 2008
CopyrightCOPYRIGHT 2008 Manila Bulletin Publishing Corp. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The peso rate closed at P40.64 to the US dollar last Friday at the Philippine Dealing & Exchange Corp. (PDEx). The weighted average rate stands at P40.643.
$ 2-B debt-swap warrants sold
LONDON, Feb. 25 (Reuters) -- The Philippines said on Monday it had sold $ 2 billion in debt-exchange warrants to holders of its foreign currency bonds to protect them in the event of default. The warrants were issued at $ 7.50 each and give holders of Philippine sovereign bonds maturing until 2017 the option, if there is a debt default, to exchange their exposure into peso-denominated Treasury bonds maturing in 2018. Manila said last week it expected to issue around $ 1.5 ...