Peso-Dollar exchange rate is P41 Peso to $1 Dollar as projected by financial analyst.
According to ABS-CBN News report, "due to BSP (Bangko Sentral ng Pilipinas) and other government actions, we do not expect further appreciation of the peso in Q2 (second quarter). Rather, it may actually start off on a mild depreciation mode as foreign investors pull out profits especially in Q2 to pay off their income taxes,” the First Metro Investment Corp. and University of Asia and the Pacific said in the latest issue of Market Call.
Earlier, the Aquino administration said the local index has made 72 all time records since it took office in 2010.
According to ABS-CBN News report, "due to BSP (Bangko Sentral ng Pilipinas) and other government actions, we do not expect further appreciation of the peso in Q2 (second quarter). Rather, it may actually start off on a mild depreciation mode as foreign investors pull out profits especially in Q2 to pay off their income taxes,” the First Metro Investment Corp. and University of Asia and the Pacific said in the latest issue of Market Call.
Overseas Filipino Workers and their family were actually affected by Peso appreciation for the last two years.
However, further reports said that the peso is forecast to average P41.17 and P41.67 during the montof April-May.
Earlier, the Aquino administration said the local index has made 72 all time records since it took office in 2010.
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