Daven Tamayo

Peso 'relatively stable' despite recent depreciation, says analyst

Photo illustration of US dollar to PH peso exchange in this photo taken on September 30, 2022. Gigie Cruz, ABS-CBN News

Article (news)

Arthur Fuentes

ABS-CBN News

MANILA - The peso has been relatively stable despite the local currency&#x27;s <a href="https://www.abs-cbn.com/news/business/2025/12/9/peso-weakens-to-a-new-historic-low-1745" rel="noopener noreferrer" target="_blank">recent depreciation</a>, an analyst said on Wednesday. RCBC Chief Economist Mike Ricafort also said he expects the peso to claw back some value towards the end of the year, as remittances from overseas Filipinos pour into the country. Ricafort pointed out that this was also the case in 2024, when the peso fell but then appreciated in the last trading days of the year as OFW families cashed in remittances. &quot;So it goes to show how important the remittances are going forward,&quot; Ricafort said in an interview with ANC.The peso touched a new record low of P59.22 to the US dollar on Tuesday. It reached a new low of P59.25 in intraday trading, but closed at P59.21. Analysts have said that anticipations of another rate cut from the Bangko Sentral ng Pilipinas also weighed on the peso. Ricafort, meanwhile, said the Marcos administration&#x27;s recent pronouncements about priority bills meant to tackle corruption, increase transparency, and curb political dynasties &quot;bring hope&quot; to the economy and the market.The RCBC economist said he also expects the BSP to cut interest rates by another 25 basis points on Thursday.But before this, the US Federal Reserve is also seen easing monetary policy.

The peso is also expected to claw back some value towards the end of the year, as remittances from overseas Filipinos pour into the country.

The peso is also expected to claw back some value towards the end of the year, as remittances from overseas Filipinos pour into the country.