A currency exchange displays its rates for dollars to pesos in Nogales, Sonora, Mexico, January 24, 2025. - Reuters
MANILA: The Philippine peso is veering toward an all-time low as the nation’s central bank plans to cut interest rates further in the face of slowing economic growth.
Goldman Sachs Group Inc., Barclays Plc and Fitch Solutions see the peso testing 60-per-US dollar mark by midyear, while DBS Group Holdings Ltd. predicts a fall to 60.8. The currency changed hands at 58.420 on Monday, not far off the historic 59 per US dollar mark hit in December.
