October 25, 2024 18:12 GMT
PHILIPPINES: BSP Governor Remolona Says USDPHP May Rise To 59 If Risks Persist
PHILIPPINES
- BSP Governor Eli Remolona Jr. said in an interview on the sidelines of the IMF meetings in Washington that the peso may weaken to 59 against the dollar if geopolitical worries and risks related to the US election don’t dissipate.
- Remolona also said that the recent bout of peso weakness isn’t a cause for concern for the BSP, nor is it enough for the central bank to reconsider its easing path over the next year, according to a report on Bloomberg,
- He said that the central bank hasn't been intervening in the market, although he worries about the peso moving too sharply. The dollar has strengthened its safe haven position, he said.
- "*REMOLONA SIGNALS RATE CUT PATH ON TRACK EVEN AS PESO WEAKENS" - BBG
- "*PHILIPPINE PESO MAY HIT 59 VS USD IF RISKS PERSIST: REMOLONA"
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