The Philippine peso traded around 57.5 per dollar, hovering near a five‑month high, supported by sustained foreign inflows into the equity market and a softer US currency. Overseas investors have been net buyers of local stocks for two consecutive months, reversing nearly eight years of persistent outflows.
The peso also drew support from renewed weakness in the US dollar amid uncertainty over President Trump’s tariff policy. However, further gains were limited by expectations of additional monetary easing from the Bangko Sentral ng Pilipinas (BSP). Last week, the BSP delivered its sixth consecutive interest rate cut to bolster an economy still recovering from last year’s corruption scandal, and analysts are currently pricing in another 25‑basis‑point reduction by year‑end.
Year to date, the peso has appreciated nearly 2%—its strongest performance since early 2012—as it continues to rebound from the record low reached in January.
