Overview

• The official wholesale rate declined for a fourth consecutive session to about ₱1,336 after peaking near ₱1,374 in late July.
• The blue-dollar price slipped to around ₱1,325, narrowing its gap with the official rate to approximately ₱25.
• Financial exchange rates also retraced recent gains, with the MEP at about ₱1,344 and the CCL near ₱1,349.
• A hike of reserve requirements to 40% combined with a US$2 billion IMF tranche has lifted gross reserves to about US$43 billion.
• Analysts caution that election-driven dollar demand remains latent even as the carry trade benefits from elevated peso interest rates.