News » Importation and Inflows on BPO Industries May Lead To Philippine Peso Recovery

Importation and Inflows on BPO Industries May Lead To Philippine Peso Recovery

Importation and Inflows on BPO Industries May Lead To Philippine Peso Recovery

Economists suggest the the Philippines Peso will recover in the last quarter of the year due to strong local importation activities across the globe and the inflows of BPO industries during the third quarter.

Michael Ricafort, RCBC Treasury Group Chief Economist said that the Philippine Peso is set to recoverby the tailend of year due to export proceeds and inflows of Business Process Outsource (BPO) industries among others.

Ricafort forecasted that there’s a good chance for the peso to recover some of the lost ground in view of the expected increase or peak in remittances towards the holiday season. The prediction is backed up by the consistent pattern that he has observed for many years.

The dip of the Philippine Peso and other major global currencies from the US Dollar is due to the Hawkish Federal Reserve’s higher for longer policy to bring inflation down.

In a speech, US Federal Reserve Chairman  Jerome Powell said that the Fed will raise interest rates as high as needed to restrict growth as it is relevant to stabilize prices.

“While higher interest rates, slower growth, and softer labor market conditions will bring down inflation in the US, they will also bring some pain to households and businesses…” Powell said. “These are the unfortunate costs of reducing inflation, but a failure to restore price stability would mean far greater pain.”

Read more here.

Start your
journey today

  • Independent
  • Free
  • Transparent

About OA

Outsource Accelerator is the trusted source of independent information, advisory and expert implementation of Business Process Outsourcing (BPO)

The #1 outsourcing authority

Outsource Accelerator offers the world’s leading aggregator marketplace for outsourcing. It specifically provides the conduit between Philippines outsourcing suppliers and the businesses – clients – across the globe.

The Outsource Accelerator website has over 5,000 articles, 350+ podcast episodes, and a comprehensive directory with 900+ BPO companies… all designed to make it easier for clients to learn about – and engage with – outsourcing.

About Derek Gallimore

Derek Gallimore has been in business for 20 years, outsourcing for over eight years, and has been living in Manila (the heart of global outsourcing) since 2014. Derek is the founder and CEO of Outsource Accelerator, and is regarded as a leading expert on all things outsourcing.