A STRENGHTHENING Philippine peso is expected to pull down consumer prices and counterbalance the upside risk of inflation, the central bank said in an outlook for the next two years.
The local currency on Friday hit its highest level in nearly five months as it closed at P43.65 against the US dollar, appreciating from Thursday’s P44.19. Friday’s level is the peso’s strongest since December 16, 2013, when it settled at P44.15.
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