12	PHILIPPINE PESO PER US DOLLAR EXCHANGE RATE
	Period		2020	2021	2022	2023	2024
	Monthly Average
	January		50.8386	48.0614	51.2353	54.9913	55.9723
	February		50.7448	48.2042	51.2807	54.7831	56.0649
	March		50.9036	48.5743	52.0740	54.7956	55.8493
	April		50.7349	48.4620	51.9760	55.3155
	May		50.5556	47.9552	52.3618	55.7279
	June		50.0972	48.1247	53.5685	55.8946
	July		49.4675	49.9430	55.8925	54.9211
	August		48.8433	50.2343	55.7501	56.1599
	September		48.5057	50.1421	57.4338	56.7869
	October		48.4822	50.7491	58.8247	56.7889
	November		48.2521	50.3571	57.6523	55.8122
	December		48.0637	50.2478	55.6839	55.5877
	Average		49.6241	49.2546	54.4778	55.6304	55.9621
	% Appreciation (+) / Depreciation (-)		4.38	0.75	-9.59	-2.07
	Volatility 1/		1.0884	1.0792	2.6219	0.7906
	End-of-Period
	January		50.9040	48.1210	51.2730	54.5450	56.3350
	February		50.9370	48.6370	51.2910	55.3120	56.1870
	March		51.0440	48.4660	51.9600	54.4290	56.2810
	April		50.5890	48.3900	52.1580	55.7420
	May		50.7270	47.9010	52.2430	56.2600
	June		49.8510	48.5440	55.0210	55.3620
	July		49.2170	50.3420	55.7220	54.8470
	August		48.6210	50.0400	56.2430	56.7020
	September		48.4650	50.9590	58.9100	56.9610
	October		48.4010	50.7700	58.2880	56.9030
	November		48.1020	50.4580	56.7960	55.3280
	December		48.0360	50.7740	56.1200	55.5670
1/ Standard deviation of daily exchange rates
Source: Bangko Sentral ng Pilipinas