Philippine Peso (PHP)

The Economic Times  Jul 13  Comment 
The Philippine peso gained 0.2 per cent, recovering a little from fresh eleven year lows it had hit this week.
Reuters  Apr 17  Comment 
REUTERS - Asian currencies rose on Monday as falls in the U.S. stock market and Treasury yields kept the U.S. dollar range-bound, and made regional currencies relatively more attractive bets.
Reuters  Apr 10  Comment 
REUTERS - All Asian currencies besides the Philippine peso were weaker on Monday as heightened geopolitical tension weighed on investor sentiment, turning their focus towards safe assets.
The Economic Times  Mar 29  Comment 
Most Asian currencies, including the Chinese yuan and the Philippine peso, inched lower.
The Times of India  Mar 24  Comment 
ASIA-FOREX/EMERGING (TABLE):EM ASIA FX-Singapore dollar, yuan, Philippine peso edge lower
The Economic Times  Feb 20  Comment 
The head of the Philippine central bank said the peso's weakness was driven by risk-off sentiment and geopolitical concerns, especially in Europe.
The Economic Times  Jan 19  Comment 
Most Asian currencies retreated on Thursday, with the South Korean won falling 0.8 per cent and the Philippine peso slipping 0.3 per cent.
MarketWatch  Sep 30  Comment 
The global investment community has delivered a stunning rebuke to Philippine President Rodrigo Duterte.
Wall Street Journal  Sep 26  Comment 
The peso sank to its weakest level against the U.S. dollar since 2009 on worries about political instability under President Rodrigo Duterte.
The Economic Times  May 6  Comment 
The Philippine peso was set to post its third straight weekly fall, hitting a two-month low on Friday, amid growing worries about the new government's economic policies.


The chart at left shows the USD/PHP currency pair; the number of Philippine Peso equivalent to 1 U.S. Dollar (USD).

The Philippine Peso can be considered a highly volatile currency. Since the beginning of the global crisis in 2008, it has lost 40% of its value, compared to its highest level. In 2009 it has regained some value in the context of improving economic conditions.

The PHP is under the pressure of recurring trade deficit that the Philippines has recorded for years. As of end 2009, the central bank (Bangko Sentral ng Pilipinas, BSP) estimated a Goods and Services Trade Deficit of $7.4 billion.

However, remittances from Overseas Filipino Workers (OFWs) allow the Balance of Payments to remain positive and provide the BSP with high levels of foreign reserves. Indeed, while FDI and capital inflows can be very volatile, remittances have proven their regularity and steadily increased year after year. In 2009, the BSP estimates that OFWs remitted over $16.6 billion during the year. This allowed the BSP to accumulate over $35 billion in foreign reserves, which covers 8 months of imports.

The BSP has stated that variations of the PHP weren't a major concern and given the level of its reserves, it has plenty room to protect its currency if the need arises.

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