The Philippine peso is expected to remain under pressure in the near term as weak domestic growth and a large current account deficit leave the currency vulnerable to external shocks, according to ANZ Research.
ANZ projects the peso could weaken to PHP64 per US dollar in the fourth quarter of 2026 and remain above the PHP60 level by the end of the Marcos administration.
The research firm said high global oil prices, elevated US interest rates, and rising global long-term rates could add to depreciation pressures on Asian currencies.
ANZ estimated the Philippines’ current account deficit at 3.5% to 4% of GDP, while the merchandise trade deficit averages around $6 billion, with remittances covering about 45% of the trade gap.
The firm also expects the Bangko Sentral ng Pilipinas to deliver one more 25-basis-point rate hike as policymakers balance inflation
Source: PhilNews24 | September 23, 2026
