Metrobank Research said in a report that the peso may strengthen to 55.3 to $1 in end2024, an improvement from the 57.2 to $1 forecast the bank gave earlier in August.
The local currency could continue to appreciate against the dollar next year. Metrobank Research sees the peso hitting 54.5 to $1 by end2025, stronger than the previous forecast of 56.3 to $1.
"Given the weak dollar environment which recently saw the dollar-peso spot rate dropping to the 55-level, Metrobank Research revises its year-end forecast to 55.3. for 2024 and 54.5 for 2025," the bank said.
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