The optimistic forecast, at the start of this year, was for the exchange rate to hold at P46:$1. That was subsequently revised to P45:$1.
This week, a number of investment houses have readjusted their projections. Some of them are looking at an exchange rate of P40:$1 by the end of this year.
If that happens, the peso will likely be the best performing currency in the whole world.
Last Monday, the Philippine Stock Exchange charged ahead to a new record high. The bullishness was attributed to positive jobs growth data in the US, indicating that major consumer economy was not about to slide into recession in the foreseeable future. Read more...
This week, a number of investment houses have readjusted their projections. Some of them are looking at an exchange rate of P40:$1 by the end of this year.
If that happens, the peso will likely be the best performing currency in the whole world.
Last Monday, the Philippine Stock Exchange charged ahead to a new record high. The bullishness was attributed to positive jobs growth data in the US, indicating that major consumer economy was not about to slide into recession in the foreseeable future. Read more...
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