Philippine Peso Dollar Exchange Rate

The value of the peso could improve to 45 to the dollar if the economy continues to grow. “If the peso follows its improvement last year, the exchange rate could hit P45 to the dollar,” said Albay Rep Joey Salceda, who was a financial analyst before he became a congressman.

He predicted that the exchange rate could hit P46 or P45 to $1 if the administration managed the economy well.

Investors and businessmen are concerned about the forthcoming combined congressional-local elections in May 14, 2007. While the nation should go through an election, the authorities should not ignore the economy. There should be prudent election spending.

Overspending will be inflationary and would worsen the budget deficit. There are few things that the administration should do to sustain the country’s economic growth and the favorable investment climate. There must be prudent spending.

Representative Salceda stressed that the May elections should be honest, peaceful and orderly, since creating chaos and violence will not build investor confidence.

Inflation is expected to rise at a slower 4.6 percent due to the continued strengthening of the peso against the dollar and a drop in fuel prices.

A lower inflation rate may give the Bangko Sentral ng Pilipinas more room to cut the central bank’s lending rate.

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