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Peso climbs on BSP, Fed rate cut hopes
Business World Philippines
|August 12, 2025
THE PESO gained against the dollar on Monday on expectations of rate cuts from both the Bangko Sentral ng Pilipinas (BSP) and the US Federal Reserve.
The local unit closed at P57.04 per dollar, rising by seven centavos from its P57.11 finish on Friday, Bankers Association of the Philippines data showed.
The peso opened Monday’s session stronger at P56.87 against the dollar, which was also its intraday best. Its worst showing was at P57.10 against the greenback.
Dollars traded went down to $2.19 billion on Monday from $2.46 billion on Friday.
"The dollar-peso initially opened lower, tracking dollar weakness over the weekend due to the Fed staff developments, but rallied after BSP Chief Remolona said that two more rate cuts are more likely for 2025," the first trader said in a phone interview.
The Philippine central bank signaled on Monday it may deliver the first of two remaining interest rate cuts this year at its Aug. 28 policy meeting as inflation remained subdued, Reuters reported.
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