Philippine Peso Set for More Gains in 2021 on Falling Imports
- SEB’s 2021 top trade recommendations include selling USD/PHP
- Stocks may trade above its five-year historical average: ATR
This article is for subscribers only.
The Philippine peso is seen notching a third year of gains in 2021 as the sluggish economic recovery curbs imports and with remittances expected to rebound.
The peso, which closed at 48.085 per dollar on Friday, will rise to 47.50 by the end of next year, according to a Bloomberg survey. The currency has risen 5.4% this year, the biggest gainer in Southeast Asia.