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?
14 thoughts on “Predictions on the Peso-Dollar exchange rate in 2008”
This is depressing for dollar earners. I’m a problogger and all my income is in USD.
I guess it’s time to raise prices 🙂
This is depressing indeed for dollar-earners. They’ll surely need to work harder in order to earn more, given that the dollar is falling and expected to fall further.
Oh please, dear lord, not anything below 41.
I think it is inevitable. Some investment analysts even predict that the peso will stabilize at the P35-P38 level this year.
Oh that was depressing indeed. Most of the income comes from foreign land (OFW,BPO,bloggers, website owners, exporters) yet prices of commodities and services are still the same.
not below 40 please…
I think government economic program has nothing to do why peso is performing well, the reason behind this is that US dollar is weakening. Mrs Arroyo should stop saying that economic plans of this gov’t are the reasons.. And why is that prices of commodities are still the same. mrs arroyo should stop claiming all the credits…Mrs President, BACK OFF!!!!
I’m Gonna Die.
Better brace yourself for this, Julia. For now, a P37:$1 exchange rate is almost a certainty.
PRO-Arroyo.Go Arroyo. I am one of your supporter.
Boost our economy.Go Go Go.Prove to the world were not belong to 3rd world country.Kill all crab mentalities people in our goverment.jail all magdalo group.STOP POLITICS!.focus on our economy.Philippines THE SLEEPING GIANT.Our country is better than singapore and the rest of asian country.Forward PHILIPPINES 2008!
In my government class, my teacher told us that the US economy is critical right at this point in time and so it is more likely the reason for the low dollar-peso exchange rate.
at most P38.5 = $1
It is not the philippine progress but the US recession that brought everything up!
Thanks for that information. It’s very usefull for us…