Peso may strengthen to P49.50 vs $1 by year-end: Standard Chartered


Posted at Aug 02 2017 10:35 AM

MANILA - The peso could strengthen to P49.50 against the dollar by the end of the year, with the exchange rate expected to stabilize, Standard Chartered Bank said Wednesday.

While Manila is expected to sustain imports for a massive infrastructure program, the dollar could be weighed down by concerns over the timing of the Federal Reserve's next rate hike, said the bank's head of economic research for Southeast Asia, Edward Lee.

The peso could slip to the P51 level against the dollar by the first quarter of next year, Lee told ANC's Market Edge with Cathy Yang.

The peso at P50.405 on Wednesday from P50.37 on Tuesday.