Posts Tagged ‘Peso’
Philippine peso poised for rebound as holiday remittances set to arrive
The currency has come under pressure following Bangko Sentral ng Pilipinas’ unexpected cut in the benchmark interest rate in early October [MANILA] The Philippine peso looks poised to rebound from its record low, with seasonal year-end remittances from millions of Filipinos abroad expected to give the currency a boost. The peso may strengthen more than…
Read MorePhilippine peso falls to new record low on rate view, outflow
[MANILA] The Philippine peso fell past the key psychological level of 59 per US dollar to an all-time low, putting pressure on the central bank to defend the currency. The peso dropped 0.5 per cent to 59.2 per US dollar on Tuesday (Oct 28), the weakest on record. Traders are closely watching for potential moves…
Read MoreArgentine Peso Drops Against Dollar Despite US Backing
Argentines scrambled Friday to buy dollars and household items as the peso depreciated against the greenback, despite multi-billion dollars of US support for the under-pressure currency. The peso has been fluctuating wildly ahead of mid-term elections next week, disrupting the savings and spending plans of Argentines who fear it can lose even more value after…
Read MoreArgentine Peso, Stocks Fall After Ruling Party’s Election Setback
The Argentine peso and share prices dropped sharply Monday after President Javier Milei’s libertarian party suffered a drubbing in a key provincial election. The dollar rose 5.3 percent compared to Friday as trading opened in the currency market and shares of Argentine companies that trade on Wall Street lost nearly 20 percent. The Buenos Aires…
Read MoreArgentine Peso Depreciates After Exchange Controls Lifted
Argentina’s currency dropped 8.4 percent against the US dollar as markets opened in Buenos Aires Monday, after the partial lifting of exchange controls in place for six years. The rate settled at 1,190 pesos to the dollar, according to state-owned Banco Nacion, well within the floating band of 1,000 to 1,400 pesos to the dollar…
Read MorePhilippine peso may test record low as central bank cuts rates – The Business Times
THE Philippine peso is veering towards an all-time low as the nation’s central bank plans to cut interest rates further in the face of slowing economic growth. Goldman Sachs, Barclays and Fitch Solutions see the peso testing 60 per US dollar mark by mid-year, while DBS Group Holdings predicts a fall to 60.8. The currency…
Read MoreFrom Bitcoin to Mexican peso, ‘Trump trades’ are appearing again
CORNERS of financial markets that could feel the impact of a Donald Trump victory are stirring again, as the US presidential race tightens with less than three weeks until Election Day. Assets ranging from small-cap stocks to Bitcoin have climbed in recent weeks while the Mexican peso and Treasuries have slipped, as polls show…
Read MorePhilippine peso skids on dollar’s strength
The Philippine peso weakened against the dollar on Thursday (Jun 20) to hit a 10-day low and lead a broader decline in Asian currencies, reflecting expectations policymakers would cut interest rates ahead of the US Federal Reserve. The peso was last trading 0.22 per cent lower at 58.77 to the dollar, having weakened earlier to…
Read MoreMexican peso posts worst week in 4 years as traders rush for exit
The Mexican peso is wrapping up the worst week in four years as a surprise election outcome sent traders rushing to unwind one of the most crowded positions in global currency markets. The peso tumbled more than 7.5 per cent after the Morena ruling party’s unexpected landslide win in congressional races stoked fears that lawmakers…
Read MorePhilippine central bank rejects rate-cut call that weakened peso
PHILIPPINE central bank governor Eli Remolona pushed back against the rate cut outlook given by the country’s finance chief, describing it as “too aggressive”. Finance Secretary Ralph Recto last week said the central bank could deliver 150 basis points in rate reductions to 2025. But Remolona said at a forum in Manila on Tuesday (Jun…
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