Peso to go back to P41:$1 territory in April, May

[delzy]

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MANILA, Philippines -- The Philippine peso is expected to average within the P41 to the greenback in April and May, slightly depreciating from the previous months as the central bank implements more actions curbing the currency's appreciation.
"BSP (Bangko Sentral ng Pilipinas) and other government officials have become wary of the peso appreciation and appear ready to apply stronger means to curb the negative impact of large portfolio capital inflows," the First Metro Investment Corp. and University of Asia and the Pacific said in the latest issue of Market Call.
"Due to BSP and other government actions, we do not expect further appreciation of the peso in Q2 (second quarter). Rather, it may actually start off on a mild depreciation mode as foreign investors pull out profits especially in Q2 to pay off their income taxes," FMIC and UA&P stressed.
From an expected average of P40.96:$1 in March and an actual average of P40.67:$1 in February, the peso is forecast to average P41.17 to a dollar in April, and P41.67 against the greenback in May.
"While the peso may have an appreciation bias due to robust portfolio investments inflows, we are expecting that the BSP will be more aggressive to stem this appreciation," FMIC and UA&P said.
Last year, the peso has strengthened almost 7% against the dollar, cutting revenues of the export industry and the business process outsourcing sector, among others. The appreciation streak of the local currency has also hurt families dependent on remittances from overseas Filipino workers, thus, reducing their spending power.

source: Peso to go back to P41:$1 territory in April, May | ABS-CBN News


good or bad news ni?

[vladmire]

good news for OFW's and no use at all for low income peeps.. sadly....

[spartan301]

Expected with the further cutting of sda rates...

[Eyemesem]

neutral

since we are so dependent on BPOs and we get huge remittances from OFWs, it's only a short term good news for those who want to keep their jobs there

but the real good news that everyone should be looking for is a healthy business and employment environment HERE in the Philippines which does NOT just stop at forex.

[Godfather]

neutral

but the real good news that everyone should be looking for is a healthy business and employment environment HERE in the Philippines which does NOT just stop at forex.

Well said. No more of our women working as maids then abused and raped. No more families broken because the parents are abroad. Surely, this is not the kind of life our people want for themselves. Good governance can make the difference!

[master.argee]

good news para sa mga dollar earner from online jobs

[evasion]

mangita na unya ko sidelyn para ana onlyn jobs

[MeMing]

"While the peso may have an appreciation bias due to robust portfolio investments inflows, we are expecting that the BSP will be more aggressive to stem this appreciation," FMIC and UA&P said.

kani gyud siguro nakadala ug labad sa ulo sa BSP. ang kwarta sa mga datu ng forengers daghan kaayo mosolod dali sa atong nasud pina-agi sa stock exchange. ang epik? mosaka maayo ang peso kay daghan man ang dollar inflows.

ang epik sa kadaghanang ordinaryong pinoy? kaubo! 3 ka industria ang dako ayo epik kung pasak-on ni ang peso: BPO, OFWs, exports. Naay kahibaw diri kung pila ni ka percentage sa atong GDP kaning 3 ka industries/sources of income lang daan?

I know for sure nga kaning 3 ka industries perting daghanang mga pamilya nag-agad ani compara sa mga pamilya nga nag-agad sa mga tao nga nagtrabaho sa stocks exchange.

ug ang numero unong pangutana gyud, kung mo-obos and dollar, ngano ang gasolina (number 1 import nato) parihas ra lagi presyo noh? kung mosaka gamay ang dollar, diba sutoy dayon ang gasolina... kabantay pud mo ani? lo-oy atong mga jeepney driver (walay labog mga abosado ug walay siminar...)...

[silent-kill]

its expected.. the government is balancing our economy para di ma hadlok ang mga investors. eeheh ig December ana sutoy napud na to 40-39.

[leo_trams]

ug ang numero unong pangutana gyud, kung mo-obos and dollar, ngano ang gasolina (number 1 import nato) parihas ra lagi presyo noh? kung mosaka gamay ang dollar, diba sutoy dayon ang gasolina... kabantay pud mo ani? lo-oy atong mga jeepney driver (walay labog mga abosado ug walay siminar...)...

mas ma appreciate ni nato if presented graphically year on year..exchange rate vs gasoline/diesel vs crude oil.

.