Connect with us

Hi, what are you looking for?

Top Stories

Editor's Pick

Peso weakens as central bank flags inflation risks


The peso weakened against the dollar Friday after the central bank warned of inflation risks next year.

The peso closed at P50.41 Friday against its P50.23 finish Thursday, according to the Bankers Association of the Philippines.

The peso opened at P50.27, with the high at P50.21 and the low at P50.43.

Dollar volume rose to $1.188 billion on Friday from $1.1274 billion a day earlier.

A trader said in an email that the peso weakened after the Bangko Sentral ng Pilipinas (BSP) noted potential upside inflation risks for 2022 from transport fare hikes and a strong recovery in domestic demand.

Monetary officials said Thursday that risks to inflation next year include typhoons and fare increases.

Headline inflation last month eased to 4.6% from 4.9% in September following a slower increase in food prices.

This was the third straight month inflation exceeded the 2-4% target band of the central bank. Inflation has topped the BSP target every month this year except in July.

Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said the peso was also influenced by election-related leads that could have triggered profit-taking in other financial markets. The markets, he said, have yet to gain clarity on the policies being proposed by the leading Presidential candidates.

“(The) peso (was) also weaker as global market sentiment (was) partly weighed by the spike in new COVID-19 cases for some countries, especially in Europe,” he said.

Lingering inflation concerns could slow down the global economic recovery, he added. – Jenina P. Ibanez

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Editor's Pick

The Board of Investments (BoI) has cleared Sinoma Energy Conservation (Cebu) Waste Heat Recovery Co. Inc. to serve as the operator of a 4.5-megawatt...


In the wake of Covid-19, people are working harder than ever. While many of us thought productivity may dip when we started working from...


Few individuals can resist the temptation to try before they buy; therefore, it was only a matter of time until online casinos realized this...

Editor's Pick

REUTERS WASHINGTON – The chair of the U.S. Senate Commerce Committee on Wednesday asked a regulator to investigate whether Meta Platforms’ Facebook misled its...

Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Secrets Of Richdads. All Rights Reserved.