12  PESOS PER US DOLLAR RATE 1            
   for periods indicated                
                    
                   
      Period   2014 2015 2016 2017 2018 2019  
                   
                   
      Monthly Averages                
                   
  January   44.9266 44.6044 47.5111 49.7363 50.5087 52.4679  
  February   44.8950 44.2214 47.6361 49.9614 51.7856 52.1901  
  March   44.7916 44.4457 46.7240 50.2752 52.0676 52.4134  
  April   44.6416 44.4136 46.2845 49.8626 52.0986 52.1122  
  May   43.9236 44.6106 46.8023 49.8603 52.1948    
  June   43.8175 44.9831 46.4645 49.8501 53.0476    
  July   43.4665 45.2649 47.0581 50.6382 53.4329    
  August   43.7673 46.1420 46.6809 50.8747 53.2735    
  September   44.0751 46.7504 47.4294 51.0094 53.9419    
  October   44.7979 46.3609 48.3482 51.3433 54.0086    
  November   44.9514 47.0067 49.1550 51.0384 52.8083    
  December   44.6878 47.2303 49.8156 50.3947 52.7691    
                   
       Average   44.3952 45.5028 47.4925 50.4037 52.6614 52.2959  
       % Appreciation(+) / Depreciation(-)   -4.39 -2.43 -4.19 -5.78 -4.29   r
  Volatility 2   0.5710 1.0807 1.1040 0.5867 1.0107    
                   
      End-of-Period                
                   
  January   45.1550 44.1320 47.8230 49.8140 51.4210 52.3520  
  February   44.6560 44.0870 47.5600 50.2670 52.0340 52.0060  
  March   44.9960 44.7960 46.1080 50.1940 52.2070 52.7820  
  April   44.4630 44.2500 46.7730 49.6990 51.9650 52.1060  
  May   43.9270 44.6500 46.7750 49.8670 52.6890    
  June   43.7800 45.2000 46.9600 50.4660 53.5220    
  July   43.4210 45.6180 47.0850 50.5820 53.2630    
  August   43.6480 46.7050 46.4670 51.1660 53.4340    
  September   44.9660 46.9260 48.2570 51.0730 54.2510    
  October   44.8760 46.8900 48.5150 51.7990 53.6060    
  November   44.9160 47.0690 49.7770 50.3650 52.6080    
  December   44.6170 47.1660 49.8130 49.9230 52.7240    
                   
                   
  1   Weighted average rate under the Philippine Dealing System (PDS) starting  04 August 1992       
  2   Standard deviation of daily exchange rate                
  Source: Bangko Sentral ng Pilipinas