In addition to risky assets such as equities, commodities, oil and gold, high-yielding currencies have performed strongly amid fresh signs that the worst of the global slump is behind us.
Development Bank of Singapore (DBS) said it has kept a negative medium-term outlook for the Philippine peso amid the widening budget deficit.
MANILA, Philippines – The peso could weaken to as low as 52 to $1 this year as a result of the slowdown in foreign exchange inflows from overseas Filipinos (OFWs) as well as the decline in interest rates.
The peso broke into the 40-to-$1 territory for the first time since March 2000, briefly hitting an intra-day high of 40.99 before closing at 41 to a dollar.
THE Philippines runs the risk of losing jobs to low-wage countries because of a strong peso, according to an economist from the University of Asia and the Pacific (UA&P).
The Bangko Sentral ng Pilipinas (BSP) thumbed down yesterday a proposal for the government to support a fixed foreign exchange rate for overseas Filipino workers (OFWs).