The peso is at risk of crumbling to a record low of ₱63 against the United States (US) dollar if a protracted Middle East conflict drives oil prices higher and forces Washington to adopt a more hawkish policy stance. Estimates by the Japanese financial giant MUFG Bank Ltd. show that in a risk...
Real investment activity in the Philippines risks shrinking during periods of global disruption, especially in scenarios where the United States (US) dollar swings wildly and uncertainty surrounding the American economy intensifies. “Investment declines most sharply when dollar strength and...
High energy prices and persistent geopolitical instability are poised to deepen the Philippines’ external imbalances, heightening depreciation risks for an already fragile peso, according to analysts at Dutch financial giant ING ING wrote in its latest report, published last Friday night, that it...
The ceasefire-driven rally of Asian currencies, including the Philippine peso, may be short-lived as global oil risks linger, according to Singapore-based Oversea-Chinese Banking Corp. Ltd. (OCBC). In an April 9 report, OCBC Group Research foreign exchange (FX) strategists Sim Moh Siong and...
Filipinos receiving and sending money from overseas lost an estimated total of ₱8.37 billion in 2023 to "hidden" fees charged by banks and money remittance centers on foreign currencies, according to findings from transparency research commissioned by global fintech firm Wise. Kristo Käärmann,...
Following the central bank’s decision to keep key interest rates on hold, the peso strengthened further on Friday, Feb. 14, breaking into the 57 level against the US dollar. According to data from the Bankers Association of the Philippines, the peso appreciated by 0.23 centavos from...
Following its recent gains, the peso declined on Monday, Dec. 9, slipping to the 58 level against the US dollar, mainly due to a slight correction in global currencies and ongoing geopolitical concerns. Data from the Bankers Association of the Philippines showed the local currency fell by 0.27...
The peso fell again to the P59 mark against the dollar on Tuesday, Nov. 26, primarily due to US President-elect Donald Trump’s intention to impose additional tariffs on products from several countries. Data from the Bankers Association of the Philippines showed that the local currency fell by...
The peso recovered on Friday, Nov. 21, strengthening to P58.87 against the US dollar, following its recent dip to a two-year low of P59. Data from the Bankers Association of the Philippines showed that the local currency appreciated by 13 centavos from Thursday’s closing rate of P59 against the...
The peso has weakened against the US dollar for the third consecutive trading day, closing at P59 on Thursday, Nov. 21, marking its lowest value in two years. According to data from the Bankers Association of the Philippines, the peso depreciated by 0.09 centavos from Wednesday's closing rate of...
The relative strength or weakness of the Philippine peso would be a consideration for monetary authorities in determining the extent and pace of the ongoing policy easing cycle, economists said. Following the 25-basis point (bp) reduction in the policy rate to six percent on Wednesday, Oct. 16,...
There will be another round of significant financial reprieve on the pockets of consumers next week as hefty price rollback will continue its streak at the gasoline stations next week, based on the calculation of the oil companies. As reckoned on the three-day outcome of trading in the regional...
