With President Ferdinand Marcos Jr. only managing to secure a one-percentage-point (ppt) reduction in tariffs on Philippine exports to the United States (US), the country is seen to lose its “minimal” competitive edge over its regional peers—an advantage it enjoyed due to a strong peso and...
Japanese financial giant MUFG Bank Ltd. sees a mild impact arising from the potentially higher United States (US) tariff set to be imposed on Philippine goods imported into America. “This announcement is to some extent a downside surprise for our FX [foreign exchange] and macro forecasts, given...
With the return of United States (US) President Donald Trump’s tariffs on the horizon, the Philippine peso may be advantaged by the economy’s relatively less exposure to global trade, according to Japanese financial giant MUFG Bank Ltd. “We are most positive on the currencies of...
The Philippine peso is expected by Japanese financial giant MUFG Bank Ltd. to linger at the ₱56 level against the United States (US) dollar in the third quarter of 2025 before appreciating until early next year. In its latest Foreign Exchange Outlook report dated July 1, MUFG’s research arm...
A dovish Bangko Sentral ng Pilipinas (BSP) may be constrained by skyrocketing global oil prices, which would further weaken the peso and could force a pause from further interest rate cuts, foreign banks said. In a June 23 report, MUFG Global Markets Research said that if world oil prices rise...
The Philippine peso continued to depreciate the worst among Asian currencies since the Israel-Iran war started, according to Japanese financial giant MUFG Bank Ltd. In a June 20 report, MUFG Global Markets Research noted that last week, “we saw a mild rebound of the United States (US) dollar (DXY...
While the Bangko Sentral ng Pilipinas (BSP) sees no need just yet to defend the Philippine peso amid global oil price risks, the plunging local currency may push monetary authorities into more cautious policy easing moving forward, economists said. Japanese financial giant MUFG Bank Ltd. said that...
The peso dropped to the ₱57 level against the United States (US) dollar on Thursday morning, June 19, ahead of the expected Bangko Sentral ng Pilipinas (BSP) interest rate cut later in the day. According to the Bankers Association of the Philippines (BAP), the local currency opened at ₱57.1,...
The Philippine peso has depreciated the most among regional currencies against the safe haven United States (US) dollar so far since Israel attacked Iran and heightened global oil price risks. A June 18 report by Japanese financial giant MUFG Bank Ltd. showed that since June 13, the peso weakened...
Israel 's attack on Iran may pause monetary policy easing by the Bangko Sentral ng Pilipinas (BSP) while also weakening the peso, according to foreign banks. “We think that the spike in oil prices on June 13 due to the Israel-Iran conflict is unlikely to derail the BSP 's decision to...
Even as the Philippine peso depreciated against the United States (US) dollar at a pace that was among the worst among emerging market (EM) currencies last week, the Bangko Sentral ng Pilipinas (BSP) is still expected to cut interest rates this week. Data from the Bankers Association of the...
Japanese financial giant MUFG Bank Ltd. sees t he peso 's appreciation streak against the United States (US) dollar being sustained until early 2026. "We continue to forecast the Philippine peso to strengthen against the US dollar, reflecting low inflation, continued space for rate cuts, FDI...
