Peso among Asia’s top resilient currencies

The Philippine peso is among the most resilient currencies in Asia as of March 10, having appreciated by 0.28% against the US dollar.

According to DOF Undersecretary Gil Beltran, this performance places the peso fourth after the Japanese yen, Hong Kong dollar, and Chinese renminbi.

Beltran attributes the peso's strength to the Philippines' strong external payments position and improving macroeconomic fundamentals.

Despite global economic uncertainties due to the spread of COVID-19 and trade restrictions, the peso remains firm with a coefficient variation of 0.27%, making it the second most stable currency after the Vietnamese dong among 12 Asian currencies.