1 week Fitch unit upgrades ‘star performer’ peso outlook Manilatimes |Biz
This Aug. 14, 2017 file photo shows P1,000 bills being counted. (The Manila Times file photo) A Fitch Group unit has raised its forecast for the peso-dollar exchange rate this year on the back of robust fundamentals. In a report on Friday, Fitch Solutions projected the local currency to average at an exchange rate of P49.75:$1 this year from its previous outlook of P50.58:$1. The newest rate is better than the peso’s weighted average rate of P50.74:$1 at end-2019, based on Bangko Sentral ng Pilipinas (BSP) data. The Fitch unit said the peso had been a ... more