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Exporters worried about strong peso
Business World Philippines
|May 27, 2025
EXPORTERS said the pace of the peso’s appreciation could have negative consequences for their businesses, and added that the industry is currently trying to determine an appropriate and balanced exchange rate.
Philippine Exporters Confederation, Inc. President Sergio Ortiz-Luis, Jr. said the industry group is conducting a “quiet” consultation and plans to convey the resulting consensus to the Bangko Sentral ng Pilipinas (BSP).
“Right now, we cannot determine what to recommend as the assumptions continuously change depending on Trump's pronouncements,” he added.
He noted that the peso’s strength is also a matter of concern to many Filipinos “because we have a lot of overseas workers.”
As such the BSP really needs to balance the exchange rate... to at least protect the OFWs,” he added.
The peso closed at P55.42 against the dollar on Monday, after finishing at P55.25 on Friday.
Year to date, the peso has appreciated by 4.38% since finishing at P57.845 on the last trading day of 2024.
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