The continued fall of the Philippine peso
is a boon to expatriates in the UAE.
Now, the good news is the Philippine peso
is not overvalued anymore.
Credit Suisse sees the Philippine peso
weakening further to 52 to $1 over the next 12 months as the country is expected to book its first current account (CA) deficit in 14 years amid surging imports.
The] implementation of the tax-reform package this month was also a positive for the Philippine peso
(Php) since the package also delivers financing for the government's ambitious infrastructure program,' he added.
2 percent balance pertained to 17 other currencies, including the Philippine Peso
The greenback has been on a winning streak against the British pound, Indian rupee, Philippine peso
and other currencies, enabling UAE expatriates, whose dirham earnings are pegged to the US dollar, to send more money home.
We have revised our end-2016 forecast on the Philippine peso
stronger to PHP47.
I cannot believe any story of improvement of the economy as so far whatever improvement there may be had not filtered down to the ordinary person and the Philippine peso
is still very low.
However, with inflation likely to pick up as a result of a depreciating Philippine peso
, prolonged El Nino effects, and an increase in fiscal spending, we forecast the BSP to raise its benchmark interest rate by 25 basis points to 4.
The bank said that the collaboration would enable transfer of Philippine peso
to BDO bank accounts in 60 seconds.
The remarkable growth pace that surpassed economists' expectations has consequently pulled the Philippine peso
up from a recorded 11-month low, and strengthened assumptions that the country's central bank would keep its policy rate in status quo throughout the year.
The Philippine peso
edged higher versus the dollar and local stocks extended modest early gains to more than 3pc at one point, hitting a record high.