Business
Peso Expected to Rise Before Inflation
The Philippine Peso (PHP) rate is expected to increase before the release of local inflation and other trade datas.
According to data from the Bankers Association of the Philippines, on Friday, October 2, PHP closed at P48.48 against the US Dollar, smaller than the previous P48.43.
Meanwhile, experts said that the Philippine Peso weakened after US President Donald Trump tested positive for the coronavirus disease 2019 (COVID-19).
“The peso was weaker after US President Trump tested positive for COVID-19, weighing on sentiment on the global financial markets, including the peso,” said Michael Ricafort, Rizal Commercial Banking Corp. (RCBC) Chief Economist.
The report from the August trade and the major catalyst from the September inflation data is expected to be released on Tuesday, October 6. (MLC)
