MANILA – The peso’s weakness against the dollar is a “net win” for the Philippines, Budget secretary Benjamin Diokno said recently.
A weak peso makes exports more attractive and increases the value of dollar remittances from abroad and the earnings of exporters and business process outsourcing companies, Diokno said.
The “losers” are those who hold foreign currency-denominated debt, he told ANC.
“A weak peso does not mean a weak economy,” he said. (ABS-CBN News)