Philippine C.Bank Chief Says Peso's Strength Driven by Strong Inflows

The Philippine central bank chief said on Wednesday (27/12) the peso's current strength was driven by multiple factors, including the seasonally strong remittances by Filipinos working overseas and equity inflows. (Reuters Photo/Thomas White)

By : Enrico dela Cruz | on 4:00 AM December 28, 2017
Category : International, SE Asia

Manila. The Philippine central bank chief said on Wednesday (27/12) the peso's current strength was driven by multiple factors, including the seasonally strong remittances by Filipinos working overseas and equity inflows.

Most Asian currencies edged higher against the US dollar on Wednesday, with the peso hitting its highest since mid-June after the four-day Christmas holiday.

Bangko Sentral ng Pilipinas Governor Nestor Espenilla also cited the dollar's softness amid uncertainty on the impact of tax legislation in the United States, and the "attractive" domestic macroeconomic fundamentals.

 
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