Philippine Peso Dollar Exchange Rate seen dropping to 52:$1

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Independent brokerage and investment group, CLSA Asia-Pacific Markets said that the peso would likely reach 52 pesos to 1 usd by year-end.

Slowing remittances from OFWs abroad as well as softening interest rates will bear down the peso despite the Philippines’ current account surplus.

Data from the Bangko Sentral ng Pilipinas (BSP) showed that the peso has shed 2.85 percent to 48.419 per $1 as of end March from 47.076 as of end January.

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