Peso may hit P53 to $1 on 'dovish' BSP: currency analyst

ABS-CBN News

Posted at Sep 21 2017 04:46 PM

The Philippine peso is likely to remain weak and fall to P53 to $1 by yearend amid contrasting policies of the US Federal Reserve and the Bangko Sentral ng Pilipinas, according to a currency analyst.

Thomasz Wisniewski, chief analyst at Alpari Research and Analysis, said Thursday it is "almost a sure bet" to go against the peso with the Fed forecast to raise interest rates and the BSP adopting a "very dovish" stance on the local currency.

"Our target for the end of the year is around 53 pesos to 1 dollar," Wisniewski told ANC's Market Edge. 

The value of the peso against the dollar has steadily declined over recent months.