Analysis of recent Dollar → Peso forecasts for 2024. We collate forecasts from respected FX analysts together with the latest US dollar to Philippine peso performance and trends.
Forecasts for USD to PHP
Recent forecasts and market updates suggest a strengthening trend for the USD to PHP exchange rate. The US Dollar (USD) has been rallying against various currencies, driven by unexpected acceleration in inflation and positive economic data, particularly the robust US job market performance. Despite inflation pressures, the US economy remains resilient, reflected in the delay of potential rate cuts by the Federal Reserve. Analysts anticipate a rate reduction in June, supported by the recent strong economic indicators and the possibility of a 0.25% cut in borrowing costs at the upcoming June meeting.
On the other hand, the Philippine peso faced a significant decline against the USD, dropping nearly 20% due to the ongoing conflict in Ukraine prompting a flight to safety. The USD to PHP exchange rate currently sits at 55.52, slightly below its 3-month average of 55.86, indicating relative stability with a narrow trading range. Overall, FX analysts anticipate further strength for the USD against the PHP in the near term, influenced by global market dynamics and the performance of both economies.
@bestfxrates : 🇺🇸💵 USD to PHP 🇵🇭 is poised for strength, trading near 55.52 amid US dollar rallies fueled by inflation spikes & robust job data. The Fed's delay in rate cuts adds momentum, with a potential 0.25% cut eyed in June. Ukrainian conflict weighs on PHP, as market dynamics spell a continued USD surge. #USDPHP #ForexUpdate
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Date
USD/PHP
Change
Period
04 Mar 2024
56.03
0.6% ▼
2 Week
19 Dec 2023
55.72
0.1% ▼
3 Month
19 Mar 2023
54.79
1.6% ▲
1 Year
20 Mar 2019
52.93
5.2% ▲
5 Year
21 Mar 2014
45.24
23.1% ▲
10 Year
23 Mar 2004
56.41
1.3% ▼
20 Year
USD/PHP historic rates & change to 18-Mar-2024
Will the US dollar rise against the Philippine peso?
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Read our Currency guide to Philippines - a practical currency and money guide to travel, living and doing business in Philippines with the Philippine peso.
Forecasts disclaimer: Please be advised that the forecasts and analysis of market data presented on BestExchangeRates.com are solely a review and compilation of forecasts from various market experts and economists. These forecasts are not meant to reflect the opinions or views of BestExchangeRates.com or its affiliates, nor should they be construed as a recommendation or advice to engage in any financial transactions. Read more