External developments to affect peso

By Mayvelin U. Caraballo

Jul 29, 2022 12:21 am

PESO exchange rates will continue to be affected by outside developments, the Bangko Sentral ng Pilipinas (BSP) warned on Thursday following another massive US Fed rate hike.

'The action of the US Federal Reserve (Fed), along with the tightening of global financial conditions and broadening uncertainty over global growth prospects, could continue to drive exchange rate movements in emerging market economies, including in the Philippines,' BSP Governor Felipe Medalla said in a statement.

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