The central bank said its recent peso-dollar rate forecast revision indicating a weakening of the local currency toward the year-end was triggered by volatility in the global markets and rising Philippine imports.

Explaining the assumptions for the revised forecast of P42 to P45 to $1 for 2014, against a previous projection of P41 to P44, Bangko Sentral ng Pilipinas (BSP) Deputy Governor Diwa Guinigundo said the new range came as a result of an assessment of global factors by the inter-agency Development and Budget Coordinating Committee (DBCC).

Premium + Digital Edition

Ad-free access


P 80 per month
(billed annually at P 960)
  • Unlimited ad-free access to website articles
  • Limited offer: Subscribe today and get digital edition access for free (accessible with up to 3 devices)

TRY FREE FOR 14 DAYS
See details
See details