Philippine firms continued to borrow in dollars during the first quarter of the year, with the amount of new loans exceeding repayments during the period despite the volatile exchange rate, the central bank said on Friday.
In a statement, the Bangko Sentral ng Pilipinas said loans granted by banks’ foreign currency deposit units rose by 6.4 percent to $6.3 billion at the end of March 2018, up by $685 million from the end-December 2017 level of $15.4 billion.

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