Peso Weak Performance

Rye83 · Jan 8, 2017

Toward the end of 2016, the peso—along with other regional currencies—fell to its lowest at the tail end of the global financial crisis, as markets grew apprehensive over local and international events. Domestic developments, mainly political, were similarly cited as concerns that dampened sentiments on the peso.

“Given the year-to-date average of the peso against the US dollar, we have to be more conservative than the past assumption on exchange rate,” Bangko Sentral ng Pilipinas Deputy Governor for the Monetary Stability Sector Diwa C. Guinigundo told reporters.

But private economists see the peso performing worse than earlier thought by the economic managers, with forecasts for the year hitting above the 50-per-dollar ceiling set by the government.

Switzerland-based UBS Bank said it sees the peso ending 2017 much weaker at 51 per dollar, and an even bleaker prospect in 2018, with a forecast rate of 55 to a dollar.

Peso plunge to continue | BusinessMirror
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Sounds good at first but just wait until that inflation rate starts to get it of control. You might get more pesos for the dollar but those pesos are going to be buying you much less in the Philippines. Something to watch out for.

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Peso Weak Performance

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