Peso seen strengthening to 40.50 to $1 in 2013

exchange inflow from overseas remittances and business process outsourcing (BPO), an economist from Dutch financial giant ING said.
In a financial market commentary dated October 22, ING senior economist Joey Cuyegkeng said recent growth upgrades by multilateral agencies, upside surprises in China and US economic data and an upside surprise in August remittance flows have recently boosted the local currency.

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