Peso-dollar exchange rate to settle at P42-43, says HSBC
April 30, 2008
The rapid rally of the Philippine Peso last year which made it the best performing currency in Asia will not be seen this year, according to multinational bank HSBC.
Later this year, the Peso is expected to depreciate further to P43 : $1 before settling at P42 by year-end. HSBC said that rising inflation in the country is a major factor why currency buyers might opt not to select the Peso this year. They are yet to see whether the monetary policy response of the Bangko Sentral ng Pilipinas is appropriate.
