News

Peso to swell towards end of week

The Philippines peso is projected to end the year strong, as it gradually inflated on Thursday at Php52.45, moving a notch higher from the previous Php52.585 after the speech of US Federal Reserve Chair Jerome Powell in November.

Landbank of the Philippines market economist Guian Angelo S. Dumalagan stated that the dollar is hoisted to move merely sideways, which boosts the peso.

On the other hand, Rizal Commercial Banking Corp. economist Michael L. Ricafort is confident that the timely influx of remittances from overseas Filipino workers (OFWs) together with lower oil prices yield a stronger peso for the week.

However, Mr Dumalagan predicts that the dollar might be able to recover from its losses as told by US Federal Reserve officials and firm labor reports.

Dumalagan bets the peso to move between P52.10 and P52.70, while Ricafort pegs the growth at P52-P52.30 in the near future.

Tags

Related Articles

Back to top button
Close