Year-End Performance Assessment is one of the activities of DOLE Region 2 to update PESO Managers from different Municipality of the updates on changes in the different DOLE programs and projects.
Such differences in perspectives makes the discussion of the peso
exchange rate not easily the stuff in which common sense agreements can be easily made.
The weakness can be attributed to the dollar strengthening and we feel that the trend will prolong for next couple of months, with the peso
sliding further, owing to domestic and international factors," Manghat told Gulf News .
In fact, as per our estimates, the peso
is very close to its fair value, so that takes out one of the headwinds.
The current account will get smaller via lower remittances and drive the peso
weaker, so the fundamentals are changing," said Sean Yokota, head of Asia Strategy at the Scandinavian bank SEB in Singapore, adding that he expects the peso
to lose more than 5 percent of its value against the greenback on a three-month horizon.
The IDB then gives those pesos to the investment bank, which then uses the currency exchange derivative markets to change the pesos
back into dollars.
ANC television network's market analyst, Cilette Liboro, in a midday interview said the peso
may fall to 56 to the dollar in the coming days.
One said he expected the peso
weakness to last until September and projected a low of 54.
After devaluing the peso
, Duhalde converted utility rates to pesos from dollars and banned increases to stem inflation, creating havoc on the balance sheets of phone, power and water companies.
The slight gain of the peso
is due to big dollar inflows into the country as Filipino overseas workers send remittances to their families back home in preparation for the opening of the classes in June,'' the analyst said.
For example, when the peso
crisis erupted in December 1994, Mexican commercial banks had about $4 billion in certificates of deposit outstanding to nonresidents; an overwhelming proportion of those deposits had been placed or brokered by foreign financial institutions.
While Mexico attracted fame and notoriety with regard to NAFTA (the North American Free Trade Agreement) and the peso
devaluation, other Latin American economies may offer good alternatives for hospitality investment in the next 18 to 36 months," he predicted.
Industry insiders, however, believe there is a reason all Americans should be concerned with the volatile fortunes of Mexico's currency, There are some, for example, who see the devaluation of the peso
as an opportunity for investors who can wait out the expected recovery.
1% in 2009 as a result of a better pricing environment in cement and the depreciation of the peso
against the dollar.
We think some of these funds were rotated into foreign assets, causing the peso
to weaken,' Credit Suisse said.