DOWNLOAD
Economy
8 MIN READ
May 2024 Updates: Higher forecast for USD/PHP for end-2024
The latest developments in the global foreign exchange market and the likelihood of delays in US Fed rate cuts have compelled us to revise our forecasts.
May 24, 2024
By Metrobank Research
By Metrobank Research
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.
For more information, please download the full report below:
Economic Updates
Download
May 2024 Updates: Higher forecast for USD/PHP for end-2024
We have revised our USD/PHP forecast amid continuing US dollar strength and rate cut delays in the US.
Download