The Bangko Sentral ng Pilipinas is continuously monitoring the peso-US dollar exchange after peso dipped to its lowest level in history at P59.46 against the US dollar in early morning trade on Thursday, January 15, Malacañang said.
The peso on Wednesday closed to its historic low of P59.44 against the US dollar.
Palace Press Officer Undersecretary Claire Castro said factors behind the weakening of the peso included global geopolitical tensions, such as the one between US and Venezuela, as well as speculations on low interest rate of US Federal Reserve, among others.
“Ang Bangko Sentral ng Pilipinas ay patuloy na binabantayan ang lagay ng palitan ng peso kontra dolyar upang makakilos ito nang tama kung kinakailangan. Sa ngayon, kampante ang ating central bank na hindi pa sila dapat magkaroon ng intervention,” Castro said in a press briefing.
“Upang maibsan ang anumang epekto ng paghina ng piso kontra dolyar, kabilang sa mga hakbang ng ating gobyerno ay ang pagsigurong pagbagal ng pagtaas ng mga bilihin, pagsuporta sa investments at ang pagpapalakas sa mga sektor ng ating ekonomiya,” she added.
The Palace official cited the investigation into anomalous flood control projects as one of the contributing factors.
“Bagama’t ganiyan ang magiging consequence, minabuti pa rin po ng Pangulo na linisin po ang gobyerno laban sa maanomalyang flood control projects, laban sa mapang-abusong paggamit ng pondo ng bayan…,” Castro said. “Ang nais po ng Pangulo ay maging transparent at maipakita sa taumbayan na ginagawa ng gobyerno ang paglilinis ng pamahalaan laban sa korapsiyon.”
When asked, however, if the imprisonment of prominent personalities involved in the flood control scandal could help in the strengthening of peso, Castro said it was difficult to speculate. (ABS-CBN News)
