9/11/2023 0 Comments $1 to philippine peso"Nevertheless, this lowest level since October 2020 of the PSEi is also a great sign to look for bargains and patiently look for quick wins," he further explained. Are you overpaying for your bank There are many of you if you’re one. ![]() However, exchange rates between the two currencies can fluctuate, so it’s always best to check the current rate before making any conversions. "With the potential recession happening, many market players are worried of stock prices falling and are rushing to protect their investment portfolios to keep from the negative impacts of contracting economic activity," added Asuncion. As of July 2020, 1 US dollar is equivalent to approximately 50.72 Philippine pesos. These developments also pushed other regional indices "deeper into the bear market," Limlingan said over Viber. 16, 2020, when it closed at 5,898.47 before rebounding to the 6,000 mark the day after.Īpart from rising interest rates abroad, Regina Capital managing director Luis Limlingan likewise cited global recession fears among investors' concerns. ![]() The last time the PSEi was on the 5,800 level was on Oct. The Fed's hawkish stance is "continuously being priced in" by the local market too, UnionBank chief economist Carlo Asuncion told CNN Philippines.Īlso on Wednesday, the benchmark Philippine Stock Exchange index (PSEi) sank 2.33% to end at 5,872.68. All indices were in the red. It closed at ₱58.98, a centavo away from the current record-low close of ₱58.99 set on Tuesday.Įconomists have attributed the peso's losing streak to the dollar's attractiveness to investors amid the US Federal Reserve's aggressive interet rate hikes against inflation. The Fed's moves have also affected other currencies in the region. 1 US Dollar 55.91 Philippine Peso 1 USD 55. ![]() You won’t receive this rate when sending money. The local currency, which opened at ₱58.95, traded as weak as ₱59.02 and as strong as ₱58.88, according to Bankers Association of the Philippines figures. 1.00 Philippine Peso 0.01 7939233 US Dollars 1 USD 55.7437 PHP We use the mid-market rate for our Converter. I use them because they have no fees and their rates are amazing. Metro Manila (CNN Philippines, September 28) - The Philippine peso continued to lose ground against the US dollar as it surpassed ₱59 during Wednesday's trading, while local shares plunged to the 5,800 level for the first time since October 2020. 1 USD 55.787504 PHP 1 PHP 0.0179251612 USD Currency converter - Light Version Widget Economic Calendar MetaTrader 5 H1 H4 D1 W1 Full Screen Chart Daily Range 55.750426 55.838501 Year Range 55.750426 56.260005 Daily Change 0.07 Week Change -0.01 Month Change -0. Sendwave is so fast and convenient to use when I want to send money to the Philippines.
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