Peso set for ®56:$1 rebound by next year after recent dip

After performing among the worst of Asian currencies last week, the Philippine peso is still expected by Japanese financial giant MUFG Bank Ltd. to gradually appreciate and return to the 56:51 level next year.

- By BEN ARNOLD DE VERA

“All Asian currencies depreciated against the United States (US) dollar [last] week, with the New Taiwan dollar and Philippine peso being the underperformer in the region,” MUFG Global Markets Research said in a Aug. 1 report.

Amid a strong US dollar performance, the peso depreciated by 1.8 percent last week, MUFG noted.

In its separate foreign exchange (forex) outlook for August 2025, MUFG cited that the peso’s end-July close of 258.307 was much weaker than end-June’s 256.31.