Local News

Peso to Strengthen in 2020; Php 50: USD 1

Philippine Peso is expected to strengthen this 2020 at Php 50 to USD 1 – and further in 2021 at Php 48.50 to USD 1. Moreover, the Peso was lauded as second-best performing currency in Asia following Thai Baht after six years of depreciation.

“We expect the peso to continue appreciating over 2020, reaching 50 by year-end,” states ANZ in an article by Philippine Star. Moreover, in an article by Business World, the strengthening of peso can be related to the rise of OFW remittance and local spending.

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