Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona Jr. said the Philippine peso’s recent fall to its weakest level on record was “misleading,” citing the tremendous strength of the United States (US) dollar against major currencies. Last Friday, July 24, the peso sank to a fresh...
The peso sank to a fresh record low against the United States (US) dollar on Friday, weighed down by escalating import burdens, global energy cost pressures, and persistent demand for foreign currency. The local currency closed at ₱61.847 per US dollar on July 24, according to official data from...
The peso matched its historic low against the United States (US) dollar while local stocks retreated for a second consecutive session, as rising crude oil prices and escalating military conflict in the Middle East fueled domestic inflation concerns. The local currency closed at ₱61.75 per dollar...
Consumer price movements may not stabilize soon due to twin threats that could keep inflation elevated, according to New York-based economic think tank GlobalSource Partners Inc. GlobalSource economist Diwa Guinigundo warned that the Philippines is battling two simultaneous price shocks: the...
Potential United States (US) tariff hikes on Philippine exports pose a fresh threat to the peso, which has remained among Asia’s weakest-performing currencies since geopolitical tensions flared up in the Middle East in late February. Trading this week showed the local currency on the verge of...
The country’s economic recovery and its currency face prolonged pressure as escalating political instability from the Senate impeachment trial of Vice President Sara Duterte risks stalling economic reforms, according to Dutch financial giant ING. Deepali Bhargava, ING’s regional head of...
A resurgence in global energy prices is poised to test the resilience of the peso, though aggressive monetary policy from the Bangko Sentral ng Pilipinas (BSP) will likely insulate the currency from extreme volatility, according to DBS Bank. DBS senior economist Radhika Rao wrote in a commentary...
Currency pressures from the global oil shock have dissipated, allowing the Philippine peso to rebound and even outperform other regional currencies, Singapore-based UOB said, which expects the previously battered currency to fare better against the United States (US) dollar thanks to falling oil...
Japanese financial giant MUFG Bank Ltd. expects the Philippine peso to gradually regain footing against the United States (US) dollar on the back of lower oil prices, improving government spending, and additional interest rate hikes by the Bangko Sentral ng Pilipinas (BSP). MUFG Global Markets...
The national government’s outstanding debt climbed to a fresh record of ₱18.55 trillion in the first five months of the year, driven by the aggressive domestic borrowing campaign that outpaced repayments and tested the country’s fiscal limits amid global market volatility. According to the...
More teams, more chances of winning in the 20th Asian Games. The Philippine Esports Organization (PESO) is thrilled to have six Sibol national teams qualify for the quadrennial meet despite the challenges the federation had to hurdle along the way. PESO executive director Marlon Marcelo hailed the...
While the Philippine peso weakened amid the “more painful” impact of the United States (US)-Iran war, it has suffered smaller losses than the Indonesian rupiah and Indian rupee, not because of Manila’s closer ties with Washington but due to its lower reliance on volatile foreign capital...
