Peso likely to stay at P51:$1 this yr – BMI

Roughly balanced upside and downside pressures could keep the peso in P51:$1 territory for the rest of the year, BMI Research said.

“Following recent weakness in the PHP (Philippine peso), we expect sideways trading in the near-term as real interest rate differentials are unlikely to narrow further in favor of the US with the BSP (Bangko Sentral ng Pilipinas) looking likely to hike interest rates in the coming months,” the Fitch Group unit said in a report released over the weekend.