Don't blame weakening peso on Duterte's mouth, says Vivian Yuchengco
Director of Philippine Stock Exchange Vivian Yuchengco said that the drop in the peso is "not caused by Duterte's mouth" but the strengthening US economy.
Yuchengco claims the peso is still overhauled and may fall up to P50 to the US dollar.
The peso fell to 48.245 against the U.S. dollar on Tuesday.
Also, Presidential adviser on economic affairs Ramon Jacinto said Tuesday that the weakening peso should not be blamed on President Rodrigo Duterte's administration's war against drugs.
"I don’t think the deterioration of the peso is really a result of what he’s been doing, it’s the world market too," Jacinto said.
He said the Philippine peso is also falling because of imports ahead of the Christmas season.
Jacinto claims that the president is becoming more independent in its foreign policy.
"Traditionally, we’ve always been dependent to the States…we don’t have to depend now on any country,” he said. MJM
SOURCE: ABS CBN News
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| Composite photos from Rappler and Bilyonaryo |
The peso fell to 48.245 against the U.S. dollar on Tuesday.
Also, Presidential adviser on economic affairs Ramon Jacinto said Tuesday that the weakening peso should not be blamed on President Rodrigo Duterte's administration's war against drugs.
"I don’t think the deterioration of the peso is really a result of what he’s been doing, it’s the world market too," Jacinto said.
He said the Philippine peso is also falling because of imports ahead of the Christmas season.
Jacinto claims that the president is becoming more independent in its foreign policy.
"Traditionally, we’ve always been dependent to the States…we don’t have to depend now on any country,” he said. MJM
SOURCE: ABS CBN News
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Don't blame weakening peso on Duterte's mouth, says Vivian Yuchengco
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06 October
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