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    Philippine Peso Forecasts 2021

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

    Updated: Oct 10, 2021  
     

    1 USD = 50.73 PHP
    Sell USD  →  Buy PHP
    USD to PHP at 50.73 is 0.7% above its 90-day average, range 49.12-51.09.
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    14-DAYLOW

    Philippine Peso Outlook

    Asian currencies including Philippine peso have been hit by the hawkish tilt from Fed Chair Jerome Powell, who signalled in September that the bond tapering is expected to start in November.

    USD/PHP wasChangePeriod
    50.71
    13 Oct 2021
    no change2 Weeks
    50.18
    29 Jul 2021
    1.1% 90 Days
    48.39
    27 Oct 2020
    4.8% 1 Year
    48.52
    28 Oct 2016
    4.5% 5 Years
    42.66
    30 Oct 2011
    18.9% 10 Years
    51.85
    01 Nov 2001
    2.2% 20 Years
    USD/PHP change over periods to 27-Oct-2021

     

    Philippine Peso – Performance

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

    Philippine Vice-President Leni Robredo made an urgent plea for vaccinations to speed up amidst a rise of the delta strain of coronavirus cases.

    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.