Peso hits six-month low at P58 per dollar
The Philippine peso weakened to P58 per dollar on Thursday as the US dollar strengthened amid reduced expectations of an interest rate cut by the Federal Reserve.
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Michael Ricafort
Michael Ricafort is the chief economist at Rizal Commercial Banking Corporation, providing insightful analysis on Philippine economic trends. He frequently comments on stock market performance, government borrowing plans, and foreign direct investments, offering perspectives that are relevant to current global and local financial conditions.
This is an AI-generated summary based on recent coverage.
Last updated at August 2, 2025.
Recent stories about Michael Ricafort
BTr raises PHP28.4 B in T-bill auction, yields drop
The Bureau of the Treasury (BTr) increased the issuance of Treasury bills (T-bills) during Monday's auction, raising PHP28.4 billion compared to its initial plan of borrowing PHP25 billion.
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Philippine foreign reserves rise to $105.32B in June
Philippine foreign reserves increased slightly to $105.32 billion in June from $105.18 billion in May, according to the Bangko Sentral ng Pilipinas (BSP).
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PSEi surges past 6,500 for first time in two months
The Philippine Stock Exchange Index (PSEi) surpassed the 6,500 mark for the first time in two months on Wednesday as investors continued to react positively to the delayed implementation of higher tariffs.
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Gov't plans P325B domestic borrowing via T-bills in Q3
The Philippine government plans to raise P325 billion through domestic borrowing in short-term Treasury bills (T-bills) during the third quarter amid hopes of continued monetary policy easing both domestically and internationally.
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Philippine gov falls short of debt target due to higher rates
On Tuesday, the Philippine government fell short of its target in raising funds through long-term local debt due to higher interest rates demanded by creditors amid market volatility caused by the Israel-Iran conflict.
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Treasury raises PHP28.6B through oversubscribed T-bill auction
The Bureau of the Treasury raised PHP28.6 billion for the national government through a successful auction on Monday, higher than its initial target of P25 billion.
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BTr fully awards five-year bond at lower yield
The Bureau of the Treasury (BTr) fully awarded a reissued five-year and one-month Treasury bond during Tuesday's auction, fetching an average yield of 5.887 percent, which is lower than the prevailing benchmark rate.
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Philippine shares rise 1.71%, peso strengthens
Local shares in the Philippines rose on Friday due to bargain hunting and improved market prospects, with the Philippine Stock Exchange index (PSEi) increasing by 1.71 percent to reach 6,413.10.
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Philippine remittances rise 2.6% to $3.13B in March
Personal remittances from overseas Filipinos rose by 2.6% to $3.13 billion in March, according to data released by the Bangko Sentral ng Pilipinas (BSP) on Thursday.
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