Tasgadh.com – the Philippine Peso is approaching the Central Bank of the country, Bangko Sentalal Send Pilipsion (FAST ENCO GROWTH MANAGEMENT PLANS. The next decision of the BSP is expected on February 13.
According to Bloomberg news, Financial Institutions like The Goldman Sachs Group Inc (nyse :)., Barclays (Lon:) PCC, and Self-Information solutions the Peso could reach the 60-dollar mark in the middle of the sea.
On Monday, the currency was trading at 58.420, close to the historic low of 59 per dollar that reached 59 dollars in December.
Asian markets are feeling the impact of a strong dollar as investors consider the impact of Donald Trump's presidency in the US. A number of Asian currencies reached a ten-year low against the dollar earlier this month, although it managed to recover from some of the losses.
The peso has a big impact, falling 2.4% because the BP started to reduce interest rates, regional peers that are unusual and the Federal Reserve. The BSP has intervened in the foreign exchange market to limit the volatility of the currency, rates reduced by 755 points between 75 points from August.
The bank is willing to continue lowering rates, although it may be at a slower pace due to geopolitical tensions and uncertainty surrounding US policy.
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