BSP outlook on the rebounds of peso as inflation falls in line

Anthony Andres | February 6, 2018

Photo from Asian Journal

February 6, 2018, the Philippine peso fell within the expectation of the central bank and was taken positively and it was rebounded against the greenback.

From P51.51:$1 on Monday, the local currency was empowered on Tuesday by closing it up with five (5) centavos and ended up with P51.46:$1.

Guian Angelo Dumalagan, a market economist and the Acting Head of Treasury at the Landbank of the Philippines said that the five (5) centavos had a great impact on strengthening the Philippine Peso starting today after the inflation rate rise up beyond the Bangko Sentral ng Pilipinas' target range.

The inflation rate clocked in January hitting the upper bound by 4.0 and has been recorded as the fastest rise over the three years but still within the target range of the BSP of 2.0-4.0 inflation rate.

Dumalagan noted that the market will be now closely monitoring the policy meeting of the BSP on February 9, Thursday.