Philippine peso likely to hit new lows against dollar
Updated
Updated · Bloomberg · May 11
Philippine peso likely to hit new lows against dollar
7 articles · Updated · Bloomberg · May 11
Analysts at Sumitomo Mitsui, BNY and MUFG said the currency may weaken even as Bangko Sentral ng Pilipinas is seen raising rates by up to 100 basis points this year.
Higher oil prices linked to the US-Iran war are lifting the Philippines' import bill, undermining the usual support from tighter monetary policy.
Strategists said the energy shock is weighing on economic growth and the trade balance, leaving the oil-import-dependent peso especially vulnerable.
With interest rate hikes failing, what can the Philippines do to rescue its plummeting currency?
As oil prices cripple its economy, can the Philippines fast-track its shift to nuclear and renewable energy?