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Philippine Peso Seen as Asia’s Worst Performing Currency Next Year
Most bearish 2018 estimate calls for peso to hit 56 per U.S. dollar with median at 51
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Investors shouldn’t expect the Philippine peso’s year-end rally versus the U.S. dollar to continue into next year. The currency will slide to 51 per dollar by the end of 2018, a loss of about 1.5 percent from current levels, according to the median estimate of a Bloomberg survey. “The peso is likely to once again underperform the broader Asia block,” said Lin Jing Leong, a Singapore-based investment manager for Asia fixed income at Aberdeen Standard Investments.