Peso to go back P41:$1 in April, May

The peso is expected to go back to P41 against the US dollar in the next two months. Sources of a publication predict exchange rates will slightly depreciate from previous months.

“Due to BSP (Bangko Sentral ng Pilipinas) and other government actions, we do not expect further appreciation of the peso in Q2 (second quarter). Rather, it may actually start off on a mild depreciation mode as foreign investors pull out profits especially in Q2 to pay off their income taxes,” the First Metro Investment Corp. and University of Asia and the Pacific said in the latest issue of Market Call, ABS-CBN News reports.

Peso to US Dollar
Peso to US Dollar (Image by
From an expected average of P40.96 to a dollar in March, the peso is forecast to average P41.17 and P41.67 against the greenback in April and May, respectively, the report stated.

If the outlook realizes, those in the export industry, the business process outsourcing (BPO) sector, freelance writers and bloggers, as well as families dependent on remittances from overseas Filipino workers (OFWs) would jump for joy.