The Philippine peso managed to keep its footing against the US dollar on Friday but the Philippine Stock Exchange index (PSEi) slipped on continued worries over the tariff decision of the US.
The local currency ended the day at 56.47, after a sideways opening at 56.55.
It traded between 56.55 and 56.49, bringing the day’s average to 56.46.
Volume reached USD1.22 billion, lower than the previous day’s USD1.39 billion.
Michael Ricafort, Rizal Commercial Banking Corporation chief economist, has noted the strength of the local currency against the greenback compared to its counterparts in the region.
For the end of this year, he forecasts the local unit to end between the 55.50-56.50 range as the US dollar weakens against major global currencies.
“(This is) amid the weaker US dollar vs. major global currencies, partly due to possible further Fed (Federal Reserve) rate cuts (after -1.00 since September 2025) as the Fed dot plot (official estimate of Fed officials) and Fed Fund Futures indicated possible -0.50 Fed rate cuts for the rest of 2025,” he told the Philippine News Agency.
On the other hand, the local bourse’s main index declined by 0.05 percent to 6,459.88 points. The broader All Shares, meanwhile, managed a 0.002 percent increase to 3,812.53 points.
Half of the sectoral gauges rose, and these are the Industrial, 0.91 percent; Financials, 0.65 percent, and Mining and Oil, 0.52 percent.
Property led the losers after it fell 0.79 percent, followed by Services, 0.65 percent, and Holding Firms, 0.49 percent.
“Philippine shares traded slightly in the red, as investors continued to analyze the renewed tariff concerns,” Luis Limlingan, Regina Capital Development Corporation head of sales, said.
This, after the US released new tariff rates on Wednesday, including that of the Philippines’ exports at 20 percent from 17 percent last April, effective August 1.
Global oil prices fell over 2 percent “as investors weighed the potential impact of the new tariffs on global economic growth,” Limlingan said.
Brent crude prices declined by 2.21 percent to USD 68.64 per barrel.*PNA
