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    Philippine Peso Forecasts

    Forecasts for the Philippine peso change all the time, affected by news events and relative sentiment towards the Philippine economy.

    Updated: Oct 05, 2022  

     

    1 USD = 55.72 PHP
    Sell USD  →  Buy PHP
    USD to PHP at 55.82 is 3.6% below its 90-day average 57.88 with range 55.82-59.23.
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    USDPHP :
    90-DAYLOW
    4-DAY-1.6%

    Philippine Peso Outlook

    The Philippine peso has dropped nearly 20 percent against the US dollar this year as the war in Ukraine causes a flight to safety.

    DateUSD/PHPChangePeriod
    18 Nov 2022
    57.27
    2.5% 2 Week
    03 Sep 2022
    56.79
    1.7% 3 Month
    02 Dec 2021
    50.43
    10.7% 1 Year
    03 Dec 2017
    50.47
    10.6% 5 Year
    04 Dec 2012
    40.86
    36.6% 10 Year
    07 Dec 2002
    53.47
    4.4% 20 Year
    USD/PHP historic rates & change to 02-Dec-2022

     

    Factors that affect the Philippine Peso exchange rate

    USD/PHP – this currency pair which normally trades in a narrow range due to frequent intervention from the BSP (Philippine Central Bank).

    The Philippine Central Bank will be concerned should USD/PHP climb further to the 51.00 level and may be forced to act.

    Philippine Migrant workers

    Migrant workers from Asia’s developing countries, such as the Philippines, have been sending home record amounts of money in recent months, defying pandemic expectations and propping up home economies at a critical time.

    However, it appears workers are just sending money home in advance of their own return due to a bleak job market, particularly in the Middle East.

    The Philippines government, expects almost 300,000 overseas Filipinos to come home this year, with potentially severe consequences as remittances make up about 10% of the economy.

    AUD/PHP – 90-day chart has seen this cross between 36.50 and 37.80 (give or take a few points). Difficult to see any changes on this cross unless the US 10-year yield climbs back to recent highs.

     

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    Posted under: #Forecasts #PHP
     

    Disclaimer: Please note any provider recommendations, currency forecasts or any opinions of our authors should not be taken as a reference to buy or sell any financial product.