Philippines: Manufacturing PMI moderates in June. Philippines: Inflation rises in June to highest level since October 2018Ĭonsumer prices recorded 0.97% growth over the previous month in June, which was higher than May's 0.53% increase.Inflation rose to 6.1% in June from May’s 5.4%. Merchandise exports climbed 6.2% annually in May, following April’s 6.2% rise. Philippines: Merchandise exports increase in May. Philippines: Central Bank surprises with 75 basis point hike in unscheduled meeting in JulyĪt an unscheduled meeting on 13 July, the Central Bank of the Philippines (BSP) raised the overnight reverse repurchase facility rate by 75 basis points to 3.25%. Remittances came in at USD 2.4 billion in May, representing a 1.8% year-on-year rise. Philippines: Remittances rise at a more moderate pace in May. Next year, the panel sees the currency trading at 48.5 PHS per USD. rates, pushing capital out of emerging markets into dollar-based assets.įocusEconomics Consensus Forecast panelists expect the Philippine peso to end this year at 48.1 PHP per USD. Lastly, on 11 November Southeast Asia’s markets were hit as a side-effect of Donald Trump’s victory in the US presidential election, due to growing consensus that his fiscal stimulus and massive infrastructural investment programs will push up inflation and U.S. In addition, foreign selling of Philippine stocks increased on the back of market concerns over policy uncertainty surrounding Rodrigo Duterte’s administration. On the other hand, the current account surplus in the Philippines has been narrowing, as remittances growth slowed in the second half of this year compared to the strong growth rates observed in past years. -vert.jpg "philippine currency rates")
dollar is strengthening on the back of rising expectations of a Fed rate hike sometime soon. On the one hand, it reflects that the U.S. The recent depreciation of the peso has been driven by several factors. The currency has lost 4.3% of its value since the beginning of the year. This was 0.4% weaker than on the same day of the previous month and 4.0% weaker on an annual basis.
On 11 November, the currency traded at 48.96 PHP per USD, the weakest value since 29 April 2009. The high was 47.24 in mid 2011 and the low was 29.47 in early 2020. dollar, continuing a trend that began in early August. The aud to php exchange rate average is close to 38.78, over the past 10 years. In November, the Philippine peso (PHP) weakened against the U.S. Philippines - Exchange Rate (average of period) Peso weakens to over seven-year low
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