BSP urged to stay aggressive on rates

The Philippine peso could again start depreciating against the US dollar if the Bangko Sentral ng Pilipinas (BSP) will go slow on increasing its key rates following improved economic data from the United States.

Emilio Neri Jr., lead economist at the Bank of the Philippine Islands, said the peso was again the weakest currency among those in the five biggest emerging economies of the Association of Southeast (SE) Asian Nations.

Citing data from Bloomberg, Neri said the peso had lost 7.6 percent of its value against the US dollar since the start of this year. The peso started 2022 at 51:$1 and closed spot trading at 55.61:$1 on Aug. 12.

Over the past 32 weeks, the Vietnamese dong,…

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