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Expats cheer as peso weakens on poor forex reserves

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Expats cheer as peso weakens on poor forex reserves

Dubai - Against the UAE dirham, it may hit the 15.00 mark by losing three per cent of its value.

Published: Tue 10 Jul 2018, 8:12 AM

Updated: Tue 10 Jul 2018, 10:15 AM

  • By
  • Waheed Abbas

The Philippine peso is weakening due to the country's poor forex reserves.
Reducing US dollar inflows, high imports of capital goods and the strengthening US dollar are impacting the peso.
If the global trend continues, the peso can fall up to 55.00 to 55.25 during the second half of 2018. Against the UAE dirham, it may hit the 15.00 mark by losing three per cent of its value.
 



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