The Philippine peso, which reached an 18-year low and the weakest since 2004 on Thursday, could strengthen temporarily in the last 2 months of the year due to seasonal remittances, economist Vic Abola told ANC on Friday.

“We have the seasonal influx of dollars from OFWs in the last 2 months of the year, so there might be some easing,” Abola said.

The peso on Thursday dipped to as low as P56.45 before closing at P56.42 to a dollar.

In terms of inflation, Abola said it could hit the upper end of the Bangko Sentral ng Pilipinas’ forecast for the month.

The BSP said inflation could settle between 5.9 to 6.7 percent.

He said the easing of inflation numbers depends on many factors including the global crude oil price, and how the government would address supply challenges, among others.

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