The year 2012 is a historic one for the Philippine Stock Exchange (PSE) and the Philippine Dealing and Exchange Corporation (PDEX), as two economic indicators broke records and posted all-time highs.
The PSE Composite Index, the country’s main stock benchmark, opened 2012 at 4,397.08 and closed the year at 5,812.73, posting 38 historic all-time highs in between. In Pres. Benigno Aquino’s term alone, the PSE index has closed 61 times at an all-time-high. The current record is at 5,832.83, posted last December 26, 2012.
Meanwhile, the peso-dollar exchange rate, as dealt in PDEX, closed at P40.85 to $1.00 last December 5, 2012, its highest close since March 2008. In 2012, the government exchange rate has never gone done its P44.13 close last January 6. It has also even never went below its P46.55 close last July 7, 2010, a week after Pres. Aquino III assumed office.
The Philippine economy performed quite well, too, in 2012. GDP growth for the first three quarters were 6.3%, 6.0%, and 7.1%. Our GDP performance in the third quarter was the best in the ASEAN region, and second best in Asia, just behind China. The country even got credit upgrades from Moody’s and Standard and Poor’s, and loaned $1 billion to the International Monetary Fund.