Peso seen weakening to P54:$1 by yearend

  • Page Views 600
  • THE government’s infrastructure push in the second half of 2019 could lead to the peso closing weaker against the dollar by yearend, according to HSBC Private Banking.

    “We expect USD-PHP (US dollar-Philippine peso) to reach 54.0 by end-2019, given the re-widening of the current account deficit,” HSBC Private Banking Managing Director Chuek Wan Fan told reporters in a roundtable in Taguig City on Tuesday.

    The peso ended 2018 at P52.58 versus the greenback, sharply down from its 2017 close of P49.93:$1.

    The local currency is currently trading against the dollar within the P52:$1 level. On Tuesday, it closed 8 centavos weaker at P52.30:$1.

    Fan said the expected peso depreciation this year would be led by the expected widening of the current account deficit, “especially going into the second half, because of the acceleration in public spending in infrastructure projects.”

    This plan includes an infrastructure spending target of P792.97 billion for the second to fourth quarters after actual infrastructure spending reached P207.2 billion in the first.(M.U. Caraballo, TMT)

    Share

    New Posts Recently publish post More

    • 23 January 2020
      6 days ago No comment

      New dad Baron Geisler in love again

      Baron Geisler and non-showbiz wife Jamie Evangelista are now parents. Jamie gave birth to their baby girl on Monday, January 20, at the Chong Hua Hospital in Cebu City. Baron uploaded photos of his newborn in his social media accounts and wrote a gushy caption, “[emojis] I’m in love #Imagine #TalithaCumiGeisler #LittleGirlArise #ThankYouJesus ...

    • 23 January 2020
      6 days ago No comment

      Heartbroken Ai Ai asks for prayers for embattled Jiro Manio

      Popular comedienne Ai Ai delas Alas turned emotional after learning about the altercation involving former child actor Jiro Manio. On Saturday, a complaint for frustrated homicide was reportedly lodged against Manio after he was accused of stabbing a certain Zeus Doctolero in Marikina City. In an 11-minute video which she ...

    • 23 January 2020
      6 days ago No comment

      Xia Vigor, nakianib sa isang children’s organization upang tumulong sa Taal evacuees

      Maging ang child actress na si Xia Vigor ay tumulong na rin sa mga naapektuhan ng pagputok ng Bulkang Taal nitong Linggo. Kamakailan, sumama ang “Miracle in Cell No. 7” star sa pagbisita ng Save the Children Philippines sa dalawang evacuation centers sa Balayon, Batangas upang magtayo ng Child Friendly Spaces ...

    • 23 January 2020
      6 days ago No comment

      Kramer kids donate old clothes for Taal eruption victims

      Even the kids of Chesca Garcia and Doug Kramer are doing their part to help those affected by the eruption of Taal Volcano last January 12. On Instagram on Saturday, Chesca shared that her children, Kendra, Scarlett, and Gavin, volunteered to give their old clothes as donations to the ...

    • 23 January 2020
      6 days ago No comment

      TAAL EVACUEES RECEIVE HELP THROUGH ABS-CBN SAGIP KAPAMILYA

      The entire country was shocked when Taal volcano suddenly erupted, sending a thick ash fall to blanket over Batangas and Cavite, and even reaching some parts of Metro Manila. Despite the heartbreaking disaster, affected families didn’t feel abandoned with all the help and support that came pouring in from ...

    %d bloggers like this: