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    Philippine peso market update

     

    The Philippine peso has experienced a notable decline against the US dollar, with a nearly 20 percent drop attributed to the ongoing conflict in Ukraine, prompting a flight to safety by investors. The USD to PHP exchange rate is currently hovering near 7-day lows around 0.017099, slightly under its 3-month average, maintaining a stable trading range of 3.3% within 0.016964 to 0.017524. Despite the uncertainties in the global geopolitical landscape, the PHP to EUR pair is exhibiting relative strength, reaching 7-day highs at approximately 0.015759, just 0.9% below its 3-month average of 0.0159, and trading in a narrow range of 4.2% between 0.015624 and 0.016282.

    Looking at other major currency pairs involving the Philippine peso, the PHP to GBP exchange rate stands at 0.013248, reflecting a 1.9% deviation from its 3-month average of 0.013508. This pair has shown stability within a 6.0% range from 0.013179 to 0.013973. Conversely, the PHP to JPY pair has hit 30-day lows at around 2.6604, marking a 1.5% decrease from its 3-month average of 2.7025, and maintaining a stable trading range of 5.4% from 2.6325 to 2.7740. FX analysts are closely monitoring these developments to assess the impact of geopolitical tensions on the Philippine peso and its exchange rates.

    BestExchangeRates.com keeps you up-to-date on Philippine peso forecasts by collating the views of reliable FX forecasters and economists together with recent PHP price trends. This analysis covers a wide range of factors including economic indicators, geopolitical events, central bank policies, and technical analysis to provide a thorough and current outlook on currency trends.

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