After more than a month of playing within the Php14.7-Php14.8 mark, the dirham-peso rate shrank to Php14. 67, as per the exchange rate bulletin posted by the Bangko Sentral ng Pilipinas.
This is the lowest exchange rate since September 11 when the exchange rate hit Php14.66.
With the rate, the predicted Dh1=Php15 remains elusive for OFWs especially with the upcoming holiday season coupled by the rising prices of goods in the Philippines.
Dirham-peso exchange rate almost reached Php14.8 in October 5 when the rate closed at Php14.7978 that day.
Earlier, UAE remittance companies told The Filipino Times that the peso-dirham exchange rate, which has continuously been moving up since last year, is headed to Php15, citing different factors.
One of which is the US’ move to hike interests resulting to a struggling peso.
Peso has strengthened against US dollar as it stands at Php53.89, as of press time.
