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Author Topic: Peso may strengthen further to 37.50:$1  (Read 1168 times)

hubag bohol

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Peso may strengthen further to 37.50:$1
« on: May 24, 2013, 08:44:44 AM »
Philippine Daily Inquirer
2:15 am | Friday, May 24th, 2013


The Philippine peso is expected to appreciate further and may hit 37.50 against the US dollar within the next 12 months, according to Goldman Sachs, citing the likelihood of a surge in foreign portfolio investments.

Mark Tan, an executive director for the investment bank, said that the Philippines, together with its neighbors, would attract more foreign “hot money” on the back of rising global liquidity and optimism on Asia.

Also, the Bangko Sentral ng Pilipinas is expected to continue buying dollars in the foreign exchange market to avoid a steep appreciation of the peso, Tan said, but its efforts may not be enough to prevent the peso from strengthening beyond the 40-to-a-dollar territory.

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hubag bohol

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Re: Peso may strengthen further to 37.50:$1
« Reply #1 on: May 24, 2013, 08:45:42 AM »
“The projection is anchored on the view that net inflow of foreign portfolio investments will remain strong,” Tan said in a briefing Thursday.

Rising global liquidity will support demand for emerging-market securities, including peso-denominated ones, he said.

The peso, along with other Asian currencies, weakened on Thursday against the greenback due to investors’ risk aversion, brought on by uncertainties in the global economy.

The peso on Thursday fell to its weakest level in about six months amid speculations that the US Federal Reserve would soon start tempering its stimulus program due to the improving economic climate in the United States.

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hubag bohol

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Re: Peso may strengthen further to 37.50:$1
« Reply #2 on: May 24, 2013, 08:46:48 AM »
The local currency closed at its intraday low of 41.69 against the US dollar, down by 51.5 centavos from the previous day’s finish of 41.175.

Intraday high hit 41.30:$1. Volume of trade amounted to $1.345 billion from $649.7 million of the previous day.

The peso and other emerging market currencies began to depreciate after the minutes of the latest meeting of the US Fed officials was released. Based on the minutes of the meeting, market players believe that the US stimulus program may soon end.

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hubag bohol

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Re: Peso may strengthen further to 37.50:$1
« Reply #3 on: May 24, 2013, 08:47:09 AM »


Meantime, the Bangko Sentral ng Pilipians said the development should be viewed positively because an improving US economy would benefit the entire global economy.

“Offhand, an early normalization of monetary policy in the United States should always be a welcome development. It means the outlook on the US economy is improving,” BSP Deputy Governor Diwa Guinigundo said.

He said the BSP is closely monitoring developments and that it is ready to implement policies necessary to ensure that the domestic financial markets would remain stable.

Also, Goldman Sachs believes that the peso will not remain weak for long.

The Bangko Sentral ng Pilipinas earlier reported that net inflow of foreign portfolio investments reached $2.1 billion in the first four months of the year, nearly three times the $766 million seen in the same period of 2012.—Michelle V. Remo

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vhinz08

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Re: Peso may strengthen further to 37.50:$1
« Reply #4 on: May 24, 2013, 09:27:11 PM »
Unsaon na lang ang binandol kung mu abot ug 37.50 against $1. Madayon kaha?

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jorgeanna

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Re: Peso may strengthen further to 37.50:$1
« Reply #5 on: May 25, 2013, 12:02:21 AM »
ayaw intawn kay looy ming mga OFWs tawn :(

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Lorenzo

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Re: Peso may strengthen further to 37.50:$1
« Reply #6 on: May 25, 2013, 01:38:10 AM »
Philippine economy is getting too strong eh.

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Lorenzo

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Re: Peso may strengthen further to 37.50:$1
« Reply #7 on: May 25, 2013, 01:40:15 AM »
ayaw intawn kay looy ming mga OFWs tawn :(

bitaw noh, ahak. if i send $500 mo ingon na pod sila, "gamay ra man na, ondoy bran!"

yataps. :-X

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jorgeanna

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Re: Peso may strengthen further to 37.50:$1
« Reply #8 on: May 27, 2013, 11:54:00 PM »
bitaw noh, ahak. if i send $500 mo ingon na pod sila, "gamay ra man na, ondoy bran!"

yataps. :-X

aw gamay ra gyud na hahahaha

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vhinz08

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Re: Peso may strengthen further to 37.50:$1
« Reply #9 on: May 28, 2013, 06:09:20 PM »
Philippine economy is getting too strong eh.

Maayo unta kung mo ubos pod unta ang mga palaliton, aron ma feel pod nato nga mitatas ang value sa atong peso. ;)

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hubag bohol

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Re: Peso may strengthen further to 37.50:$1
« Reply #10 on: May 29, 2013, 11:09:41 AM »
Unsaon na lang ang binandol kung mu abot ug 37.50 against $1. Madayon kaha?

From our point of view, matibhangan ang kayamanan. Segurado hinuon nga intact ang kayabangan. Bwahaha! ;D

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