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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: Jun 21, 2022  
     

    1 USD = 55.09 PHP
    Sell USD  →  Buy PHP
    USD to PHP at 55.10 is 4.2% above its 90-day average 52.9 with range 51.33-55.10.
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    90-DAYHIGH

    Philippine Peso Outlook

    The Philippine peso has dropped 10 percent against the US dollar as the war in Ukraine causes a flight to safety.

    DateUSD/PHPChangePeriod
    20 Jun 2022
    54.11
    1.7% 2 Week
    05 Apr 2022
    51.48
    6.9% 3 Month
    04 Jul 2021
    49.15
    12% 1 Year
    05 Jul 2017
    50.59
    8.8% 5 Year
    06 Jul 2012
    41.86
    31.5% 10 Year
    09 Jul 2002
    50.20
    9.6% 20 Year
    USD/PHP change over periods to 04-Jul-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.