Peso seen hitting P59:$1 | The Manila Times

THE peso could return to its all-time low of P59 against the dollar, and rate cuts by the Bangko Sentral ng Pilipinas (BSP) aren’t helping, ING said in a report last week.

The currency, the Dutch multinational banking and financial services firm said, “was one of the worst performers in Asia last month, with rate cut expectations by BSP next month adding fuel to the fire.”