BPO revenues boost PH peso
The recent MUFG Global Research revealed that cash remittances from Business Process Outsourcing (BPO) revenues, together with the overseas workers’ sector, will support the peso as it remains resilient while the Philippines continues to fight COVID-19.
The peso closed at P48.025 versus the dollar on Wednesday, the peso’s strongest finish since February 15, when it closed at P47.93. MUFG then expects the peso to move within P46 to P49.75 versus the dollar for the second quarter.
Further, the research projects the Philippine peso to go up to P50 per dollar on Q3, and trade between P46.25 to P50.25 in Q4.
Related news
- New BPO firm said to be looking to employ 1,000 nurses in Iloilo City · 16 Oct 2019
- 542 Illegal overseas workers arrested in raid on Pasay City BPO 0peration · 14 Oct 2019
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