Meanwhile, the continued strengthening of the dollar is expected as the US Fed signals more rate hikes in the near term, making it possible for the peso to hit a low of P60 to $1, First Metro Securities’ Equity Research Deputy Head for Retail Royce Aguilar earlier said. Felipe Medalla said interest rate hikes are seen to help stabilize the peso. “The intention is not to target a certain level (of exchange rate)… the priority is bringing inflation back to the target band,” he added.īSP Gov. USD to PHP Conversion Table How to Convert USD to PHP 1 United States Dollar 55. The BSP on Thursday raised the country's benchmark interest rate by 50-basis points to 4.25 percent. Convert USD to PHP Please provide values below to convert USD United States Dollar to PHP Philippine Peso, or vice versa. “The peso’s movement is natural consequences of current account dynamics of a growing economy,” Dakila said. The central bank, as an inflation-targeting agency, is ready to "respond" to the foreign exchange if it poses risks to inflation, he said. 01) Currency: Peso (1857-1967) Composition: Brass (95 Copper, 5 Zinc) ONE CENTAVO FILIPINAS. It fell to as low as P58.5 in intraday trading.ĭespite the continued depreciation, the peso is not the worst performer in the region, an official of the Asian Development Bank earlier said.Ĭurrencies globally, such as the Japanese yen and other currencies in the region, have taken a hit mainly due to the dollar rally following the latest US Fed rate hike.īangko Sentral ng Pilipinas Deputy Governor Francisco Dakila also said the peso's movement is natural in a growing economy. The peso on Thursday closed at P58.49 to $1, which was weaker than Wednesday's close of P58 to a dollar, BAP data showed. 23 hours ago &0183 &32 1 of 5 People board a truck as they leave Khartoum, Sudan, Monday, June 19, 2023. New customers get 56.14 PHP to 1 USD on their first money transfer. MANILA - The Philippine peso fell to yet another record low against the US dollar, following the US Federal Reserve's latest big time rate hike, data from the Bankers Association of the Philippines showed. Wiener’s office estimates that roughly 400 million of the proposed 1.1 billion in cap-and-trade funds would go to Bay Area transit agencies. 1 United States dollar 0 Philippine peso, 1 Philippine peso 0 United States dollar Further Information US-Dollar - Philippine Peso Currency Table USD / PHP Currency Table PHP /. Remitly offers dependable rates for USD to PHP with no hidden fees.
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