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MODEL PORTFOLIO THE GIST
NEWS AND FEATURES
Global Philippines Fine Living
INSIGHTS
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
WEBINARS
2024 Mid-Year Economi Briefing, economic growth in the Philippines
2024 Mid-Year Economic Briefing: Navigating the Easing Cycle
June 21, 2024
Investing with Love
Investing with Love: A Mother’s Guide to Putting Money to Work
May 15, 2024
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
View All Webinars
DOWNLOADS
investment-ss-3
Reports
Policy rate views: Fed expected to do baby steps
September 18, 2025 DOWNLOAD
economy-ss-9
Economic Updates
Inflation Update: Faster but full-year average within target
September 5, 2025 DOWNLOAD
948 x 535 px AdobeStock_433552847
Reports
Monthly Economic Update: Waiting on Jay Powell
September 2, 2025 DOWNLOAD
View all Reports
BusinessWorld 2 MIN READ

Peso to move sideways vs dollar

March 18, 2024By BusinessWorld
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The peso could trade sideways against the dollar this week as the market awaits the policy meeting of the US Federal Reserve.

The local unit closed at PHP 55.53 per dollar on Friday, weakening by 13 centavos from its PHP 55.40 finish on Thursday, Bankers Association of the Philippines data showed.

Week on week, however, the peso strengthened by four centavos from its PHP 55.57 close on March 8.

The peso weakened on Friday following the release of US producer price index (PPI) and retail sales data, which resulted in a general stronger dollar and higher US Treasury yields, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

Retail sales rose 0.6% last month, the Commerce department’s Census Bureau said, Reuters reported.

They increased 1.5% on a year-on-year basis in February.

Meanwhile, another report from the Labor department showed the producer price index for final demand rose 0.6% in February after advancing 0.3% in January.

In the 12 months through February, the PPI shot up by 1.6% after advancing 1% in January.

For this week, Mr. Ricafort said the market will monitor the Fed’s March 19-20 policy meeting for leads.

Mr. Ricafort sees the peso ranging from PHP 55.30 to PHP 55.80 per dollar this week. — A.M.C. Sy with Reuters

This article originally appeared on bworldonline.com

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