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Philippines May Find Peso Relief on Imports Gain: Southeast Asia

Philippine demand for capital goods imports, spurred by faster economic growth, may help counter the effect of surging inflows of funds from abroad and cool the peso’s gains, central bank Assistant Governor Cyd Amador said.

“The peso could likely move within a narrower range, be more stable and less volatile,” Amador said in an interview yesterday in Davao City. “On the one hand, the country’s bright growth prospects and expectations of its continuing strength could serve to draw in more foreign money. On the other hand, import requirements of the economy could rise as public and private investments increase.”