Analysts forecast the Philippine peso to strengthen slightly in October after closing September at P51 to the US dollar. On the other hand, Ruben Carlo Asuncion, chief economist of the Union Bank of the Philippines, believes the dollar-peso exchange rate would remain stable in October, ranging between P50 and P50.50. Rizal Commercial Banking Corp. chief economist Michael Ricafort, for his part, anticipated immediate support for the peso-dollar exchange rate at P50.50 to P50.60 levels. The government expects a peso-dollar exchange rate of P48 to P53 this year. The peso finished the last trading day of December and 2020 at P48.02 per US dollar, its best closing in more than four years.

Source: Manila Times October 05, 2021 14:26 UTC