This is according to Rizal Commercial Banking Corp. (RCBC), Security Bank Corp. (Security Bank), IHS Markit, ING Bank Manila and Bank of the Philippines Islands (BPI) analysts polled by The Manila Times on Tuesday. Their outlooks compare with the government’s peso-dollar exchange rate assumption of P50 to 54 this year. Last year, the peso ended at P50.63 against the dollar, a 3.70-percent appreciation from the P52.58:$1 recorded on Dec. 28, 2018, and under the government’s P51 to 52:$1 exchange rate assumption for the year. Meanwhile, Security Bank Assistant Vice President and economist Robert Dan Roces expects the exchange rate to range from P50.80 to 51:$1 this year. The peso finished at P49.95:$1 on Tuesday, weaker than its P49:90:$1 close the previous day.

Source: Manila Times June 09, 2020 18:45 UTC