May 2024 Updates: Higher forecast for USD/PHP for end-2024
by Metrobank Research
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Given the recent dollar strength and the peso depreciation, in line with other currencies in the region as most Fed officials signaled a delay in US Fed rate cuts amid the lack of progress on US inflation, we expect the USD/PHP exchange rate to end higher at 56.1 by end-2024 from the previous estimate of PHP 54.0 per dollar with an upward bias.
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