Rates Outlook: Remittances, BPO industry may bring relief to USD/PHP
Despite the dollar’s strength, the fourth quarter may yet lead the dollar-peso exchange rate back to the PHP 55 level.
(Editor’s Note: This outlook is subject to updates as needed.)
Our strategist, EA Aguirre, said investors are watching out for the US Fed’s next move in its meeting in November. The markets are split on whether the Fed will decide on another rate hike. Still, Metrobank’s research team foresees the exchange rate easing as the Christmas season comes around.