Predictions on the Peso-Dollar exchange rate in 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?

About the Author

PSEi support seen at 6,200 and 6,000 amid weaker Peso

In a not-so-surprising move, the U.S. Federal Reserve (Fed) yesterday raised interest rates by 75 basis points (bps) or 0.75% in a bid to tame rising inflation in the United States. This was the third consecutive 0.75% rate hike by the Fed, which brings the federal funds rate, the central bank’s benchmark interest rate, to ... Read more

Official SWIFT Code of BDO, BPI, Metrobank, Philippine banks

When sending cash remittances or wire transfer to a bank account in the Philippines (such as BDO, BPI, Metrobank, Landbank, DBP, etc.), you’ll surely need the SWIFT Code of the bank. Look no further because you can find all the SWIFT Codes you need in this list! Make sure you’re using the right bank code ... Read more
blank

How to Waive your Credit Card Annual Fee (BDO, BPI, Metrobank, RCBC, Citibank, UnionBank)

Without a doubt, one of the most annoying fees that credit cardholders have to pay is the annual fee. Majority of cardholders are familiar with this fee and majority of us likely pay this grudgingly year after year after year. In the case of my credit card with BPI (Bank of the Philippine Islands), I’m ... Read more
blank

Why Filipinos do not become business owners or entrepreneurs

For a majority of Filipinos, entrepreneurship does not seem to be a typical, expected path. This is not surprising, considering that in school, students are primarily taught to become employees after graduation. Students train for years to become staff workers, reporting to a supervisor, and just waiting to receive their wages or salaries every month. ... Read more
blank

My experience investing in Mutual Funds in the Philippines

I started investing in mutual funds when I was 22 years old. As an Overseas Filipino Worker (OFW) then, I was fortunate to be able to save some money at that young age because of my work abroad. One time while I was on vacation in the Philippines, I saw a large billboard in EDSA ... Read more
blank

Income Tax Tables in the Philippines (2022)

The Philippines’ new tax reform bill, known as TRAIN or Tax Reform for Acceleration and Inclusion, was signed into law on December 19, 2017 and its implementation began on January 1, 2018. What are the new income tax rates under the TRAIN law? How will TRAIN affect income taxes of individuals and corporations? How is the ... Read more
blank

PSE Stocks Performance under each Philippine President (1987-2021)

Did you know that Philippine stocks were able to achieve an astounding growth of 800% in a span of 30 years? From 1987 until 2018, the Philippine Stock Exchange index (PSEi) rose from 1,000 points to a peak of 9,000 points — generating a return of 800% over 30 years. (The PSEi is an index ... Read more
blank

SSL 2022: Salary Increases for Teachers, Nurses, Gov’t Employees

Good news to all government employees! There’s a new round of salary increases beginning January 1, 2022! Millions of employees of the Philippine government — including public school teachers, nurses and staff of government hospitals, and workers in local and national government agencies, etc. — will be getting an automatic salary adjustment this 2022 under ... Read more
blank

PSE Trading Hours in 2022: What time open, when closed?

Before you take the plunge into stock trading and investing, make sure you understand what stocks are and how the Philippine Stock Exchange (PSE) operates. Unlike other investments that are relatively safe, stock trading is risky and loss of money is a possibility. So before you deep dive into the exciting world of stock trading, ... Read more

Price Floor and Price Ceiling of PSE Stocks

Trading bands in the PSE come in two forms: Price Ceiling, or the upper price limit, and Price Floor, or the lower price limit.

14 thoughts on “Predictions on the Peso-Dollar exchange rate in 2008”

  1. 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 🙂

    Reply
  2. 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!!!!

    Reply
  3. 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!

    Reply
  4. 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.

    Reply

Leave a Comment