Reported 2 months ago
The Philippine peso is experiencing an upward trend following unexpected inflation data that lessens the likelihood of an interest-rate cut by the Bangko Sentral ng Pilipinas. After hitting a two-year low in June, the peso rallied 2.8% to finish at 57.28 per dollar. Analysts anticipate further strengthening of the currency, potentially reaching 56.5 per dollar by year-end, as the central bank appears less inclined to lower rates imminently.
Source: YAHOO