Economy

As of February 06, 2007, Tuesday, the peso was in its six-year high of 48.50 to the dollar. The peso is at its strongest level since March 2001.

Analysts predict the peso trade to stay in high level in the first quater due to renewed confidence in the economy then lower in the second quater due to the elections. Foreign investors see strong peso and high growth in the economy for 2007. Kevin Grice, London-based senior economist, predicts money remittance inflows from overseas workers would remain robust, growth in bank lending would continue to increase, and the overall economy would grow faster than in 2006.

Reference: Inq7.Net

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