Top Stories

Peso-Dirham rate hits P13.98, likely to cross P14 again

The peso-dirham exchange rate has today started hovering at the P13.98 P13.99 range with industry experts saying the trend is showing it may once again cross the P14 mark in the next days.

“It’s going on that direction,” Edwin Punzalan,  senior manager at Banco de Oro (BDO), a Philippine –based bank with direct remit partnership with Dubai’s Emirates NBD, told The Filipino Times in a phone interview. “Mukhang paakyat ang rate,” he said.

A check with online currency converters showed the rate at Ph14.02.

Punzalan said the exchange rate of peso as well as other Asian currencies against the dollar is going on an upward movement.

The peso-dirham rate first hit the Ph14-mark on Aug. 16 this year and money exchange experts said it is headed for Ph14.20 before year ends.

Stand by for more developments.

Related Articles

Back to top button