It is expected that the upcoming national elections will be good news for the peso. This expectation partially comes from history, since previous elections in 1998, 2004, and 2010 had also seen positive impacts on the currency. The expectation was expressed by Jonathan L. Ravelas, BDO Unibank’s Chief Market Strategist, in a phone interview.
The positive effect is expected to take effect within a few short months following the elections. It is estimated that a preliminary range of Php 46.50 to Php 48.50 will happen by the year’s end. For something a bit more specific, Php 47 is the touted number. As of this past weekend, the peso closed at Php 47.55 against the greenback.
