The Philippine peso would further strengthen this year although at a slower pace than last year’s gains amid expectations of sustained US dollar weakness, the UK-based Oxford Economics said.
The peso, the Indian rupee, and the Indonesian rupiah were expected to appreciate against the greenback in 2021 as they would benefit from growing risks coming from the United States’ twin deficits—budget and current account balances, Oxford Economics economist Sung Eun-jung said in a Feb. 18 report titled “Stronger macro boost to rupee, rupiah and peso.”
Following an over 5-percent gain in 2020, Oxford Economics sees the peso appreciating by more than 2 percent this year.
“The peso rallie…
Keep on reading: Peso seen further strengthening vs dollar in 2021