2024-04-22 Philippine Peso News

Summary of Last Week

  • Opening:
  • Closing:
  • Difference of Opening & Closing:
  • Daily High:
  • Daily Low:
  • Difference of Daily High & Low:

Statistical Measures

  • Mean:
  • Standard Deviation:


1. Understanding the overall trend of the exchange rates

From the dataset provided, the overall trend in the PHP exchange rate from 03-22-2024 to 04-19-2024 seems to be slightly decreasing. The rate starts at a peak of 0.02414 on 03-22-2024 and ends at a low point of 0.02391 on 04-19-2024. While there are fluctuations in between—most prominently seen in the period from 04-10-2024 to 04-12-2024 where it rises to a maximum of 0.02435—the overall direction points towards a decrease.

2. Identifying any seasonality or recurring patterns in the changes of exchange rates

Analyzing the dataset, however, reveals no apparent seasonality or recurring patterns within this particular timeframe. Instead, the PHP exchange rate appears to experience slight but turbulent shifts rather than adhering to a regular, cyclical pattern. This could be due variables from within the Philippine economy or the global economy as a whole which is not included within the dataset.

3. Noting any outliers, or instances where the exchange rate differs significantly from what would be expected based on the trend or seasonality

Anomalies in this dataset include a sudden spike in the PHP exchange rate to 0.02435 on 04-12-2024, which contradicts the overall declining trend. However, given the volatile nature of currency exchange rates, such outliers aren't uncommon and are usually reactionary to global or domestic events.

  • The first anomaly occurred on 04-10-2024, where the rate rose to 0.02418, a relatively significant increase compared to its prior data points.
  • The second, and most significant, anomaly occurred on 04-12-2024 when the rate peaked at 0.02435 which is the highest point within this dataset.
  • Another less significant yet still notable outlier is the final point on 04-19-2024, where the exchange rate fell to the dataset's lowest level at 0.02391.

Please keep in mind that while this analysis provides a descriptive overview of the dataset, it doesn't offer an explanation or prediction towards the reasons behind these trends and anomalies. For a more in-depth insight, a more comprehensive analysis that includes external economic, political, and global health factors would be needed.

April 2024 The exchange rate of the Philippine Peso (PHP) demonstrated a volatile performance in the period spanning March to April 2024, as revealed by recently released time-series data. Kicking off with an advantageous position of Php 0.02414 at 02:00:02 on March 22, 2024, the exchange rate of the PHP against the US dollar underwent frequent fluctuations over the course of the period. This trend highlighted the pervasive market volatility impacting the financial sector globally and regional markets in Asia. Despite the volatility, the PHP showed resilience, maintaining close to its initial level, with the rate standing at Php 0.02421 at 12:00:03 on April 10, 2024. However, a subsequent downturn sent rates down to Php 0.02394 on April 18, 2024, before a slight recovery to end at Php 0.02391 by 12:00:03 on April 19, 2024. Analysts point to various international and domestic factors that contributed to this unstable period. Disruptions in global supply chains, regional geopolitical tensions, and fluctuations in commodity prices are all believed to have played a role. Domestically, the PHP''s movements could reflect economic indicators such as GDP growth, inflation rates, interest rates, and foreign trade balances. In addition, the exchange rate influenced industry stakeholders, notably importers and exporters. While firms importing goods from abroad may have struded due to higher costs, those dealing with exports may have enjoyed competitive pricing on their goods in international markets. The implications of these fluctuations extend beyond importers and exporters. Consumers may have experienced higher prices for imported goods and services. Conversely, those invested in export-oriented companies, like those in the technology, agriculture, or manufacturing sectors, might have seen higher returns. "As long as the global and domestic economic scenarios remain uncertain, we can expect similar exchange rate fluctuations in the future," said Roderick Tan, a local economist. "Therefore, it''s essential for stakeholders to stay updated on economic developments and devise strategies to mitigate potential risks or tap into opportunities arising from these changes." In terms of macroeconomic policy, these figures might prompt the Central Bank to carefully consider its next moves, particularly concerning interest rate settings and measures to manage liquidity in domestic markets. Looking ahead, market watchers and economic players will certainly be keeping an eye on key regional trends in Southeast Asia. Factors such as China''s economic health, post-Covid recovery strategies, and the escalating climate crisis could instigate future exchange rate movements. At the same time, domestic factors such as the 2024 election results and performance of key sectors will also be influential in deciding the fate of PHP. To conclude, the financial sector should brace for potential turbulence ahead. By maintaining a keen eye on relevant events and trends, stakeholders can proactively adapt and capitalize on the conditions dictated by exchange rate fluctuations.PHP Exchange Rates Exhibit Mixed Performance Over March-April 2024

Current Middle Market Exchange Rate

For information purposes only.