MANILA, Philippines — The peso exchange rate closed higher at P42.18 to the US dollar yesterday at the Philippine Dealing & Exchange Corp. (PDEx) from P42.215 the previous day. The weighted average rate appreciated to P42.193 from P42.284. Total volume amounted to $1.517.71 billion.

B.S.P. not issuing 150-Piso Notes

The Bangko Sentral ng Pilipinas (BSP) yesterday issued a warning to the public that it is not printing a new banknote denomination of 150-piso. The BSP reacted to fictitious reports circulating in the Internet of an alleged printing of 150-piso commemorative notes.

“The BSP has never issued nor is planning to issue such type of banknote,” said the BSP. There are only six banknote denominations, these are 20-piso, 50-piso, 100-piso, 200-piso, 500-piso and 1,000-piso.

In 2000, to commemorate the centennial year, the BSP printed P10-billion worth of 2000-piso notes bearing the signature of former President Joseph Estrada but these were never circulated. (LCC)

2011 global F.D.IS. up 17%

Despite turmoil in the world economy, global foreign direct investment (FDI) inflows rose by 17% in 2011 to $1.5 trillion, surpassing their pre-crisis average, based on preliminary UN Conference on Trade and Development (UNCTAD) estimates.

FDI inflows increased in all major economic groupings developed, developing and transition economies. (EHL)

Landco sales up by 20%

Landco Pacific Corporation (Landco) posted a total of P2.65 billion sales in 2011, up from the P2.20 billion it made in 2010. “2011 was a good year for the Philippine real estate industry and a busy and exciting year for Landco as well,” said Alfred Xerez-Burgos III, Landco president and CEO.

“The company witnessed robust sales, registering a 20% growth compared to 2010 and the industry saw a large demand for housing that was further spurred by high OFW remittances and low-interest rates.”

Toyota raises Indon Plant Output

JAKARTA (Reuters) – Japan's Toyota Motor Corp. will boost annual capacity at its Karawang plant in Indonesia by 50,000 cars to 120,000 cars in a bid to keep up with growth in Southeast Asia's top economy, a senior official at the firm told Reuters on Wednesday.

The automaker said it would invest an additional 15 billion yen ($195.11 million) in the facility due to the increase.