Predictions on the Peso-Dollar exchange rate in 2008
January 2, 2008
The Philippine Peso is Asia’s best performing currency of 2007, closing 18.8% higher at P41.28 at the end of last year.
The runners-up were: Indian Rupee (which grew 12% in 2007); Thai Baht (7%); Malaysian Ringgit (6.4%); Chinese Renminbi (6.88%); and Singapore Dollar (5.9%).
But the buck does not stop there. The Philippine currency is expected to further strengthen in 2008, with most market watchers predicting that the peso will stabilize below the P40-level. One analyst even predicted that the peso will touch P35 this year.
Below is a collection of prediction of the Peso-Dollar exchange rate in 2008:
“Peso can further appreciate to P37.50 in 2008″
- a report by CitiGroup
“As much as P38.00 by early 2008″
- Michael G. Manuel, CEO of Sun Life of Canada (Philippines)
“Hitting P38.00 is already almost a certainty”
- Ramon Lim, treasurer of Philippine National Bank
“We’re looking at P37.00“
- Roland Avante, Chinatrust Commercial Bank treasurer
“Peso likely to zoom to P35.00-37.00 against the greenback”
- Antonio Agcaoili Jr., Asia United Bank senior vice president
“Peso might break into the P39.00 level but only briefly this year”
- Jose Emmanuel Hilado, chief foreign exchange dealer at Banco de Oro-EPCI
“Peso will rise to P37.00 this year and further to P30.00 next year.”
- BNP Paribas
“Peso at P40.00“
- American Express Bank
“P41.00 is to $1 over the next 12 months”
- Bear Stearns
What’s your prediction on the exchange rate? Do you think it will settle below P40? Will it reach P35 this year?
Click for more interesting, useful and related posts:
- phillipines dollar rate in 2008