By Ronnel Domingo
Philippine Daily Inquirer
First Posted 21:01:00 05/15/2011
Filed Under: Foreign Exchange Markets, Forecasts
MANILA, Philippines—The peso is seen settling at 45.21 against the US dollar by the end of the second quarter as monetary authorities take steps to curb the local currency’s continuing “appreciation bias,” according to a joint research by First Metro Investment Corp. and the University of Asia and the Pacific.
“The peso will continue to have an appreciation bias in the second quarter due to robust exports, remittances [from overseas Filipinos], and a surge in portfolio capital inflows as global fund managers return to emerging markets,” the study said.
“However, the [Bangko Sentral ng Pilipinas] will restrain the appreciation by building up its international reserves further and avoid making foreign exchange losses,” it added.
Read here
Philippine Daily Inquirer
First Posted 21:01:00 05/15/2011
Filed Under: Foreign Exchange Markets, Forecasts
MANILA, Philippines—The peso is seen settling at 45.21 against the US dollar by the end of the second quarter as monetary authorities take steps to curb the local currency’s continuing “appreciation bias,” according to a joint research by First Metro Investment Corp. and the University of Asia and the Pacific.
“The peso will continue to have an appreciation bias in the second quarter due to robust exports, remittances [from overseas Filipinos], and a surge in portfolio capital inflows as global fund managers return to emerging markets,” the study said.
“However, the [Bangko Sentral ng Pilipinas] will restrain the appreciation by building up its international reserves further and avoid making foreign exchange losses,” it added.
Read here
No comments:
Post a Comment