Peso may breach P54 vs $1 by year-end: HSBC

ABS-CBN News

Posted at Jul 18 2018 04:48 PM | Updated as of Jul 18 2018 07:39 PM

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MANILA - The peso may weaken to the P54 to the dollar level by the end of the year, an economist for HSBC said Wednesday.

The peso had hovered at P53 against the greenback in recent weeks as imports continued to outpace exports and as the dollar strengthened against major currencies.

HSBC said it revised its year-end peso forecast to P54.50 from P52, economist Noelan Arbis told ANC. 

HSBC said the Bangko Sentral ng Pilipinas may hike its benchmark rate by another 50 basis points this year.