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The peso is anticipated to rebound against the US dollar this week, following hawkish remarks from the Bangko Sentral ng Pilipinas (BSP) chief after the recent policy meeting.
The local currency closed at P56.795 per dollar on Friday, strengthening by six centavos compared to its P56.855 closing rate on Thursday.
The local currency closed at P56.795 per dollar on Friday, strengthening by six centavos compared to its P56.855 closing rate on Thursday, based on data from the Bankers Association of the Philippines.
It also appreciated by two centavos from its P56.815-a-dollar finish a week earlier. Year-to-date, the peso has weakened by 1.8%, equivalent to P1.04, from its closing rate of P55.755 on December 29, 2022.
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