Reported about 1 month ago
Philippine central bank Governor Eli Remolona Jr. has indicated that the peso may weaken to a record low of 59 against the dollar if geopolitical tensions and uncertainties surrounding the upcoming U.S. elections persist. The peso has recently dropped nearly 4% this month, raising concerns about potential inflation due to further depreciation. Despite this, the Bangko Sentral ng Pilipinas remains committed to a gradual interest rate reduction path, aiming for a benchmark rate of 4.5% by the end of 2025.
Source: YAHOO