As the year-end approaches, it is expected that the Philippine peso will rebound due to an increase in remittances from overseas workers before the Christmas holidays.

In the past, data has shown that inflows typically reach their peak in December, leading to the peso's recovery in the final quarter in six out of the last seven years. Despite experiencing a decline of nearly 4% this quarter, Australia & New Zealand Banking Group predicts that the peso will rise by over 5% by the end of the year.

The surge in remittances is likely to provide significant support for the peso as families prepare for the festive season.