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Rothwell Investment: Foreign Exchange executive Says US Dollar Rates are Affecting Philippines Economy

This report came for an event organized by Rothwell Investment where the company’s CEO was a keynote speaker

HONG KONG, CHINA, April 25, 2018 / -- Rothwell Investment, one of the leading financial institutions that offer professional financial services to the clients spread all across the globe, today announced that according to the Foreign Exchange executive in the Philippines price rate hike in the US is the biggest factor that is affecting their currency Peso and the economic growth. Some other challenges that were raised in the survey include uncertainty of global politics, economy and trade policy of the US, export growth.
Other than Mr. Jackie Din, the event also had a speech from Sammi Koo, Global Head of Responsible Investment. Many Foreign Exchange traders, brokers, bankers, and corporate treasurers made a speech regarding the challenges and opportunity present in the Foreign Exchange market and factors that can impact the economic growth. The poll revealed that a large number of respondents believes in FX deregulation in the Philippines in order to offer more opportunities to the firms. Some, on the other hand, feels there wouldn’t be much impact and others say it will provide opportunities with downfalls.
Respondent in large number believes that the two currencies that perform the best are the US dollar and the Euro. The list is followed by Yen (Japenese), Yaun (Chinese), and Pound (British). By the end of the year, 70 percent respondent expects the rate of USD/PHP to go above 61.5% whereas 30 percent expects that it will be somewhere between 51.0-51.5. A small 11 percent respondent believes that the USD/PHP rate would go down below 61.0.
In the second quarter of the current year, Philippine’s GDP growth was recorded at 7% which is behind China but it still ranked above 10 other states of Southeast Asia. According to most of the respondents of the poll, the biggest risk to the economy of Philippines is the US rates. Some blamed the constricted policies in the economy and a few number of people said it is the China slowdown. A major number of people in this poll believes that the global investor sees the Philippines as an important destination for investment in the coming year.

About Rothwell Investment

Rothwell Investment is one of the leading financial institutions that offer professional financial services to the clients spread all across the globe. From providing its services to individuals to government firms and business establishments the company provides services to a various investor array. The company delivers data, analytics to make the study and integration of financial strategy easier as well as efficient for the clients. Their main aim is to generate newer and more innovative technology that would make the financial management of the companies an efficient process and help them reach their investment goals. The firm has come up with many such innovative technologies that resulted in successfully meeting the investor’s financial objectives.

Albert Wai Lun
Rothwell Investment
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