THE PESO climbed to a new seven-month high against the dollar on Thursday as the Philippine gross domestic product (GDP) growth was above target in 2022. The local currency closed at P54.40 versus the greenback on Thursday, rising by 23 centavos from Wednesday’s P54.63 finish, data from the Bankers Association of the Philippines showed. This […]
Tag: peso
Peso rises to seven-month high as market awaits Fed meeting
THE PESO climbed to a seven-month high against the dollar on Tuesday on expectations of discussions of a pause in tightening at the US Federal Reserve’s review next week. The local currency closed at P54.435 versus the greenback on Tuesday, climbing by 10.5 centavos from Monday’s P54.54 finish, data from the Bankers Association of the […]
Peso steady amid US debt ceiling woes, PHL GDP bets
THE PESO closed unchanged against the dollar on Monday as negative sentiment brought by developments in the United States was offset by expectations of strong Philippine gross domestic product (GDP) growth. The local currency ended at P54.54 versus the greenback on Monday, steady from Friday’s finish, data from the Bankers Association of the Philippines showed. […]
Peso seen to move sideways vs dollar
THE PESO may continue to move sideways this week as investors await the US Federal Reserve’s next move. The local unit closed at P54.54 per dollar on Friday, strengthening by nine centavos from its P54.63 finish on Thursday, Bankers Association of the Philippines data showed. Week on week, the peso strengthened by 35 centavos from […]
Peso rises on BoJ decision, stock market’s gains
THE PESO strengthened against the dollar on Wednesday following the Bank of Japan’s (BoJ) decision to keep rates ultra-low and amid expectations that the Philippines will be among one of the fastest-growing economies in the region this year. The local unit closed at P54.62 per dollar on Wednesday, appreciating by 20 centavos from Tuesday’s finish […]
Peso weakens on China GDP data
THE PESO declined against the dollar on Tuesday as economic growth in China was stronger than expected in the fourth quarter, boosting the greenback and global oil prices. The local currency closed at P54.82 versus the greenback on Tuesday, declining by 24.50 centavos from Monday’s P54.575 finish, data from the Bankers Association of the Philippines […]
Peso rises to new six-month high vs dollar
THE PESO posted a fresh six-month high against the dollar on Monday as easing US inflation in December 2022 fanned hopes of smaller rate hikes from the US Federal Reserve as early as this month. The local currency closed at P54.575 versus the greenback on Monday, climbing by 31.50 centavos from Friday’s P54.89 finish, data […]
Peso weakens vs dollar ahead of US inflation data
THE PESO weakened against the dollar ahead of the release of December US consumer price index (CPI) data and after the Bangko Sentral ng Pilipinas (BSP) chief said they could cut banks’ reserve requirement ratio (RRR) this year. The local currency closed at P55.29 versus the greenback on Thursday, dropping by 49 centavos from Wednesday’s […]
Peso climbs further vs dollar as Powell avoids policy outlook talk
THE PESO rose further against the dollar on Wednesday to post a fresh six-month high after US Federal Reserve Chair Jerome H. Powell avoided commenting on his monetary policy outlook in scheduled remarks on Tuesday and following strong data on foreign direct investments (FDI) in the Philippines. The local currency closed at P54.80 versus the […]
Peso climbs to over six-month high vs dollar
THE PESO strengthened to an over six-month high against the dollar on Tuesday as weak services activity data and expectations of easing inflation out of the United States fueled hopes of smaller rate hikes from the US Federal Reserve. The local currency closed at P54.87 versus the greenback on Tuesday, climbing by 24 centavos from […]
Peso slips vs dollar on mixed data
THE PESO slipped against the dollar on Tuesday amid reduced flows after the holidays and mixed economic data. The local currency closed at P55.79 versus the greenback on Tuesday, inching down by 3.5 centavos from Dec. 29’s close of P55.755, data from the Bankers Association of the Philippines showed. The peso opened Tuesday’s trading session […]
Peso rebounds versus the dollar ahead of long holiday weekend
THE PESO rebounded against the dollar on the last trading day of 2022 ahead of another long weekend, which could lead to increased spending. The local currency closed at P55.755 versus the greenback on Thursday, up by 44.50 centavos from Wednesday’s P56.20 close, data from the Bankers Association of the Philippines showed. The peso opened […]
Peso seen to move sideways on holiday spending
THE PESO is expected to move sideways this week on the further increase of holiday spending, especially as trading reaches the tail-end of the season. The local unit closed at P55.15 per dollar on Friday, weakening by six centavos from its P55.09 finish on Thursday, Bankers Association of the Philippines data showed. However, week on […]
Peso strengthens versus dollar as Nov. budget deficit narrows
THE PESO strengthened slightly on Thursday due to the narrowing of the government’s budget deficit for November. The local currency closed at P55.09 against the greenback, up by a centavo from Wednesday’s P55.10 close, data from the Bankers Association of the Philippines showed. The peso opened the session at P55.045 per dollar, which is also […]
Peso gains on economic optimism
THE PESO strengthened further on Tuesday as the National Economic and Development Authority (NEDA) expressed optimism about reaching its target economic growth for the year. The local currency ended at P55.24 against the greenback, up by 17 centavos from Monday’s P55.41 close, data from the Bankers Association of the Philippines showed. The peso opened Tuesday’s […]
Peso likely to move sideways on rate hike bets
THE PESO is expected to move sideways against the dollar this week as both the US Federal Reserve and the Bangko Sentral ng Pilipinas (BSP) are likely to continue hiking rates to bring down inflation. The local unit closed at P55.56 per dollar on Friday, rising by 12.5 centavos from its P55.685 finish on Thursday, […]
Peso extends climb vs dollar as Bangko Sentral hikes benchmark interest rates
THE PESO strengthened against the dollar on Thursday after the Bangko Sentral ng Pilipinas (BSP) raised borrowing costs anew at its policy meeting in its fight against inflation. The local currency ended at P55.685 against the greenback, up by six centavos from Wednesday’s P55.745 close, data from the Bankers Association of the Philippines’ website showed. […]
Peso weakens on strong US data
THE PESO ended weaker against the dollar on Monday following stronger US employment data and the downward revision to Philippine economic managers’ growth forecast for next year. The local unit closed at P56.02 versus the dollar on Monday, losing 28 centavos from its P55.74 finish on Friday, data from the Bankers Association of the Philippines’ […]
Peso may continue to climb vs dollar ahead of inflation data
THE PESO may continue to strengthen against the dollar this week ahead of the release of November inflation data that could give the Bangko Sentral ng Pilipinas (BSP) impetus to hike interest rates further. The local unit returned to the P55-per-dollar level on Friday, closing at P55.74, surging by 48 centavos from its P56.22 finish […]
How SMEs can manage fluctuating peso values better
This year’s most harrowing economic trend, following the accelerated rate of inflation, is the depreciation of the Philippine peso against the US dollar. The local currency hit P50 to $1 dollar in July 2022 and continued to depreciate, eventually dropping to P59 in September and October before recovering this month to the P57 range. The […]