Embattled Peso Seeks Relief as Philippines to Weigh Rate Hike
- Central bank is set to decide on interest rates on Thursday
- Peso slid 3.6% in August, among the worst performers in Asia
This article is for subscribers only.
A rebound in the dollar has hit the peso harder than most of its peers and the losses may get exacerbated if policymakers at the Philippine central bank hold interest rates this week.
With a 3.6% slide in August, the currency has already gone from Asia’s second-best performer to one of the worst in the region. It will likely extend the losses from this year’s nadir if a pause by the Bangko Sentral ng Pilipinas on Thursday further widens the rate differential with the US.