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Strong Peso Continues to Affect PH Exporters

by: Sarah Joson

Monday, April 29, 2013 | Outsourcing News |

The efforts exerted by the Bangko Sentral ng Pilipinas to offset the valuation of the Peso were recently lauded by the business process outsourcing (BPO) sector and other exporters in the country. However, they said the seven percent gain last year made them less attractive to investors as their rates became more expensive.

Peso Valuation in the Philippines

During the end of 2011, the peso-dollar exchange rate was at P43.84, and last year, it closed at P41.05:$1.

According to a BPO group executive, investors might take their business elsewhere if the peso strengthens further. In line with that, the head of the Export Development Council said some providers are preparing for future peso gains by making contracts more flexible.

Meanwhile, Senen Perlada, Executive Director at the Export Development Council, said some exporters avoid long-term contracts. Key personalities in the BPO and export sector said what matters most is the quality of the services and its value to the investors, so that if the peso becomes stronger, they will still be a reasonable choice.


Source:
http://www.abs-cbnnews.com/

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