While the conference was spent in discussing and presenting the PESOs
remarkable achievements in 2017, concerns regarding the delivery of services and implementation of projects and programs were raised and addressed during the discussions.
had been fluctuating for quite some time, trading between 11 and 13.
At the same time, Devesh said sentiment on the ground remained weak for the peso
, reflecting a quite strong demand for US dollars.
If the central bank had not intervened, the peso
would have fared worse, said a trader.
The Central Bank said earlier it forecasts the peso
to settle in at the 53 to 53.
Nevertheless, when the crisis broke, a large number of geographically dispersed investors were caught holding short-term claims on Mexico that could not be serviced without incurring a massive short-run depreciation of the peso
However, while the peso
appears to be stabilizing, the country's high inflation - estimated at 42 percent in 1995 (presently among the highest in all of Latin America) - could lead to another round of devaluation, according to some economic forecasts.
The money made through those higher rates often offset any principal loses caused b a declining value of the peso
principal loses caused by a declining value of the peso
against the dollar.
The depreciation of the peso
against the dollar continues to have a mixed impact on the Company's results.
In the fourth quarter, the BSP's 'dovishness' would be bearish for the peso
, the investment bank said.
It also quashed market expectations that the peso
would end 2017 beyond the weaker 50:$1 level.
Launched last year, the PESO
Fund is a voluntary provident fund offered exclusively to active SSS members here and abroad.