The Philippine peso is poised to recover from a slide in October with a boost from a seasonal pick up in overseas remittances ahead of the Christmas holidays.

Inflows typically reach their highest level for the year in December, which have helped the peso gain during the final quarter in six of the previous seven years, Bloomberg-compiled data showed. Australia & New Zealand Banking Group forecasts a more than 5% rise in the currency by year-end. The peso is down nearly 4% so far this quarter.