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Philippines will defend peso 'as hard as we possibly can', president says
- People can take solace in the fact that our policy towards the peso is to continue to defend the peso as hard as we possibly can
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Philippine President Marcos Jr. vowed to defend the peso against further depreciation, assuring the public that the government has the resources to stabilize the currency after it hit a record low.
Read the full article for:
- Government's commitment to peso stability.
- Measures to prevent further currency depreciation.
- Peso hitting a record low.
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MANILA: Philippine President Ferdinand Marcos Jr said on Wednesday authorities would continue to do all they can to ensure the peso currency does not keep falling against the dollar.
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“People can take solace in the fact that our policy towards the peso is to continue to defend the peso as hard as we possibly can,” Marcos told reporters, adding his government has “all the means to defend” the currency, which hit a record low on Tuesday.