‘Peso-dollar rate to hit P50-51:$1 in 2017’

THE Philippine peso is expected to depreciate to the P50-P51:$1 level next year as the greenback gains traction from the impending US interest rate increase and the expanded infrastructure spending on the domestic front.

During one of the panel discussion at the 48th FINEX National Conference on Friday, speakers agreed on a 4 percent to 6 percent average depreciation of the peso per year.