3 months Peso seen weakening to P54:$1 by yearend Manilatimes |Biz
THE government’s infrastructure push in the second half of 2019 could lead to the peso closing weaker against the dollar by yearend, according to HSBC Private Banking. “We expect USD-PHP (US dollar-Philippine peso) to reach 54.0 by end-2019, given the re-widening of the current account deficit,” HSBC Private Banking Managing Director Chuek Wan Fan told reporters in a roundtable in Taguig City on Tuesday. The peso ended 2018 at P52.58 versus the greenback, sharply down from its 2017 close of P49.93:$1.Advertisements
The local currency is currently trading against the dollar within the P52:$1 level. On Tuesday, it closed ... more