(FMIC) and the University of Asia and the Pacific (UA and P) believe the strength of the peso
will likely be 'short-lived.'
But in January, the peso
joined six other currencies that appreciated: the Chinese renminbi/yuan, Indonesian rupiah, Japanese yen, Malaysian ringgit, Singapore dollar and the Thai baht.
sank almost four percent in 2003 as an attempted coup and corruption scandals hurt then president and now House Speaker Gloria Macapagal-Arroyo.
Nomura in a September 10 emerging markets special report, said that while they predict the peso
weakening further to P55.50 by end-2018, the sufficient foreign exchange reserves buffer would balance any adverse effect.
had been fluctuating for quite some time, trading between 11 and 13.5 to every dirham between early 2008 and mid-2016.
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.
dollar and that also expressed against the peso
,'' Loo said.
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.
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
. The investors realized that their investment strategies had been based on one or more false premises concerning the nature of Mexico's exchange rate regime or the probability that they could liquidate their holdings before any crisis hit.
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.
To get to the $1 to the 49 exchange rate, Wisniewski said, the peso
has to break the 52 to the $1 rate.