Malacañang said the ongoing conflict in the Middle East has contributed to the Philippine peso’s decline to a record low. Although Palace Press Officer and Communications Undersecretary Claire Castro did not entirely attribute the weakening of peso against US dollar to the ongoing war, she said...
Singapore-based DBS Bank Ltd stated that the Philippine peso is emerging as one of Asia’s most vulnerable currencies as deepening global oil crisis exposes the nation’s heavy reliance on imported energy and the lack of government subsidies. DBS wrote in a commentary published last Friday that...
President Marcos has cited the futility of spending the country 's foreign reserves to defend the Philippine peso, which recently further weakened, hitting a new record low of P60.30 against the US dollar. In an interview with Bloomberg, Marcos stressed that the dollar 's movement is...
Malacañang has attributed the Philippine peso 's all-time low against US dollar to the several global and local developments, including the tension between the United States and Venezuela and the investigation on the anomalous flood control projects. "Ang pagtaas ng piso kontra dolyar...
Volatility in the peso-dollar market will persist as long as no concrete actions are taken to address the political uncertainties that have seeped into the financial markets. This uncertainty will eventually impact the country’s potential for economic growth. Yes Virginia, our dear local currency...
Singapore-based United Overseas Bank (UOB) expects lower interest rates to lift Philippine economic growth in the near term, despite lingering global challenges that would likely expand the domestic economy below the government’s goal for the year. In its Quarterly Global Outlook report for the...
After performing among the worst of Asian currencies last week, the Philippine peso is still expected by Japanese financial giant MUFG Bank Ltd. to gradually appreciate and return to the ₱56:$1 level next year. “All Asian currencies depreciated against the United States (US) dollar [last] week,...
After experiencing a three-day appreciation streak against the United States (US) dollar, the Philippine peso weakened again by shedding almost half-a-peso on Friday, July 25, despite the fresh market optimism over the latest trade deal with the US. According to the Bankers Association of the...
The Philippine peso continued its gains against the US dollar as the foreign exchange (forex) market celebrated the latest trade deal between the trade giant US and the Philippines, with investors optimistic that the worst of the tariffs may have passed. Data from the Bankers Association of the...
Despite United States (US) President Donald Trump’s surprising decision to raise tariffs by three percentage points on Philippine exports, the foreign exchange (forex) market showed minimal concern, according to Dutch financial giant ING. “While Trump’s tariff hike on the Philippines—from...
The Philippine peso depreciated further to its weakest in nearly one month, after slipping back to the ₱57 level against the United States (US) dollar on Friday last week due the higher US inflation. The local currency dropped to the ₱57:$1 level on Wednesday, July 17, closing at ₱57.085 from...
After showing signs of recovery the previous day, the Philippine peso returned to the ₱56 level as investor confidence grew over the tentative Iran-Israel ceasefire, while the United States (US) dollar slipped to test its recent lows. Data from the Bankers Association of the Philippines (BAP)...
