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Peso to appreciate despite rate cuts
Manila Bulletin
|August 23, 2025
Fitch Solutions’ unit BMI said that despite monetary policy easing and the expected two more quarter-point cuts in key interest rates before year-end, it still sees the Philippine peso appreciating to as strong as P55 against the United States (US) dollar.
“Despite rate cuts by the BSP [Bangko Sentral ng Pilipinas], the peso will strengthen slightly from current levels as the evolving situation in the US weighs on the dollar,” BMI said in a report published Wednesday, Aug. 20.
On Wednesday, the peso strengthened against the US dollar, closing at P56.96, which was also its intraday high, from P57.1 last Tuesday, Aug. 19. The local currency hit an intraday low of ®57.39 after opening at 57.25.
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