US-China trade war affects Phl peso !-- -- PHILEQUITY CORNER - Wilson Sy (The Philippine Star) - September 2, 2019 - 12:00am The
Philippine peso, one of the more resilient Asian currencies this year, fell sharply against the US dollar last month as the US-China trade war escalated.
The
Philippine peso ended Thursday sideways against the greenback while the Philippine Stock Exchange index (PSEi) fell anew due to growth concerns overseas.
The
Philippine Peso ranked second against the US dollar among selected Asian currencies, according to the Department of Finance.
THE Department of Finance (DOF) said the
Philippine peso, which appreciated by 2.82 percent in the January-to-July period, ranked second among Southeast Asian currencies.
The
Philippine peso has joined currencies of neighboring Asian countries as among those the UK-based Oxford Economics sees as resilient currencies that are unlikely to face a crisis in the near term given strong macro fundamentals.
The
Philippine peso weakened sharply after Diokno took office.
Are Indian rupee,
Philippine peso weakest currencies right now?
Muscat: Filipino residents based in Oman are happy with the slump in the market price of the
Philippine peso. Mylene Garcia, 37, who works as a personal trainer at one of the private gyms in Muscat said it's an opportune time to lock in more pesos into her Philippine savings account so she has more money to spend when she visits Manila in June this year.
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.
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 4.25% by end- 2016.
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.
