The Philippine peso’s depreciation has been under a percent and remains smaller compared to other currencies in the region, according to the Bangko Sentral ng Pilipinas (BSP).
THE Philippine peso’s depreciation has been under a percent and remains smaller compared to other currencies in the region, according to the Bangko Sentral ng Pilipinas .
To date, Remolona said the peso has remained below 55 pesos to one dollar. He said the BSP hopes this will continue in the months ahead. The BSP expects this to offset the weakness in the country’s net foreign direct investments . This year, FDIs could reach $9 billion. “It’s [monetary tightening] bound to slow down the US economy, maybe even cause a mild recession in the United States, but it will also cause a slowdown around the world,” Remolona said.
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