Philippines Peso Outlook 2013
Philippines Peso closed at 40.70 against the US dollar, up by 8.5 centavos from the previous day’s finish of 40.785:$1. Economist Shayne Heffernan is predicting the Peso will see 38.50 in 2013 as the local economy grows and the US prints money at a record rate.
It was also the strongest in nearly five years. The last time the peso closed stronger was on March 6, 2008, when it hit 40.56:$1.
Intraday high hit 40.69:$1, while intraday low settled at 40.79:$1. Volume of trade amounted to $1.23 billion from $773 million previously.
Some investors see the peso to rise further, citing government projections that remittances and foreign investments in the business process sourcing sector will remain robust. Yield seekers would like to take advantage of the situation by purchasing peso-denominated securities.
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Heffernan Capital Management
Linda Johnson,
Business Development Director – Private Client Group,
Sales@Heffcap.com
Singapore
3 Raffles Place #07-01
Bharat Building Singapore 048617
Tel: +65 6329 6408
Fax: +65 6329 9699
Shayne Heffernan Ph.D.
Economist/Hedge Fund Manager
Shayne Heffernan oversees the management of funds for institutions and high net worth individuals. He is also an active consultant working with Corporations around the World.
He is recognized as one of the leading Economists in South East Asia, as well as the preeminent authority on ASEAN. His opinions and forecasts are widely read by decision makers in the region and Internationally.
Shayne Heffernan holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reached a peak of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.
Member
Chinese Society of Economists
American Economic Society
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