THE peso continued to weaken against the US dollar on Wednesday, falling to a new near 13-year low of P54.325:$1. The peso is currently at its lowest since a P54.42:$1 finish on November 22, 2005. Economic managers earlier this year raised their peso-dollar exchange rate assumptions to P50-53:$1 for 2018-2022 from P49-52 previously. A senior Bangko Sentral ng Pilipinas official has projected that the peso could regain some strength by the end of the year and help mitigate above-target inflation. With the holiday season approaching, “we would expect that the exchange rate will start shaping up,” he added.

Source: Manila Times September 26, 2018 16:30 UTC