Wondering what level the peso will be at this year (against the dollar of course)? Perhaps you need it for your business strategy or for accounting purposes. Here is a running tally of what analysts and economists see for the peso this year. This feature of Open For Business will be regularly updated. So bookmark this blog!
Citibank - P38 in Q1, P35 by yearend (as of February 4, 2008)
American Express - P40 by yearend (as of December 27, 2007)
HSBC — P37.2 by yearend (as of January 25, 2008)
Standard Chartered - P39.50 by yearend (as of January 25, 2008)
JP Morgan - P38.50 by yearend (as of January 25, 2008)
NEDA — average P42 to P45 for 2008 (as of January 1, 2008)
Former central bank governor Joey Cuisia — P38.50 to P39 by yearend (as of January 29, 2008)
PNB treasurer Ramon Lim - bottom of P38 for 2008 (as of December 31, 2007)
Roland Avante, treasurer of Chinatrust — P37 (as of December 31, 2007)
Asia United Bank SVP and treasurer Antonio Agcaoili Jr. - P35 to P37 in 2008 (as of December 31, 2007)
Jose Emmanuel Hilado, chief foreign exchange dealer at BDO — break into P39 but only briefly (as of December 31, 2007)
BNP Paribas - P30 for 2008 (as of December 31)
Bear Stearns - P41 for 2008 (as of December 31)
*INQUIRER.net does NOT recommend these figures. They are published only for readers’ information. INQUIRER.net will not be liable for any loss or damage caused by a reader’s reliance on information obtained from this blog.
4 Feedbacks on "UPDATE: Peso forecast for 2008"
Alex Mino
Ouch…that will indeed hurt individuals who are mainly based overseas.
Personally, I really wouldn’t mind the sharp increase of the peso. what is surprising is how come the cost of basic goods/ foods, petrol, electricity, toll fees (major portion of which was loaned in USD) does not go down even a tiny bit at all.
The sharp increase in the value of our currency terribly hits hard the majority of the family and houseld whose main source of income comes from a member of the family who works overseas. sadly that includes me.
boy
I would like to believe the forecast made by NEDA, perhaps there is something that other analyst and economist didn’t consider. NEDA should know best!
Gene
I expect the peso to slightly go down (P38 maximum) upto middle of this year and will rise to P40-P41 upto end of the year.
This is due to the economic slowdown in the US. After the US presidential election this year, the peso will start to appreciate (if a Democrat wins).
The thing is: We hope for the best and expect for the unexpected. For OFW’s, the depreciation of peso hurts. That’s life, what goes up must come down.
So the best thing to do is INVEST in real estate and other assets that appreciate.
Ramzi Tubloklawi
Notice that all peso forecast are way off except NEDA’s. I would say it will be between 47 and 50 from this month till mid-november then easing back to 45-47 towards the end of the year.
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