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)...
After hitting a nearly three-month low in the previous day, the peso rebounded against the United States (US) dollar, influenced by a tentative ceasefire between Iran and Israel, which pushed global crude oil prices to near two-week lows. Data from the Bankers Association of the Philippines (BAP)...
The Philippine peso continued to weaken on Monday, June 16, after slipping back to the ₱56 level against the United States (US) dollar on Friday last week due to escalating conflict in the Middle East. The local currency further depreciated at the start of the week, closing at ₱56.41,...
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...
The Philippine peso is seen likely maintaining its relative strength against the United States (US) dollar for the rest of this year until early next year, as the greenback struggles amid US economic policy uncertainty, according to Japanese financial giant MUFG Bank Ltd. "We maintain our view for...
