Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno (MB file)
And, he said that “over the near term, the peso should continue to reflect emerging demand and supply conditions in the FX (foreign exchange) market as well as the continued soundness in the country’s macroeconomic fundamentals.”
“Likewise, favorable investor sentiment over the economy’s strong position (relative to other emerging economies) in terms of debt management and FX cover could likewise provide support to the peso,” added Diokno. “Furthermore, the peso and financial markets should benefit from the gradual reopening of the economy amid ample policy support from fiscal and monetary authorities. Nonetheless, risks could emanate from uncertainty surrounding the fear of resurgence of COVID-19 and impact on the domestic and global economy.”