3 weeks Peso seen revisiting 50:$1 levels in 2021 as imports pick up Inquirer
The peso may slip back to the 50 levels against the US dollar next year as import activities pick up pace with the reopening of the Philippine economy after months of the coronavirus pandemic-induced lockdown, think tank Fitch Solutions said. But the pace of the peso's depreciation through next year could be more modest than earlier expected. Fitch Solutions now forecasts the peso to average at P49.78:$1 this year and P50.10:$1 next year, revising its previous average forecast of P50.58:$1 this year and P51.80:$1 next year. The think tank sees headwinds for the local currency over the near term. "Firstly, ... more