Friday 19 October
Powered by Ajaxy
Nov 22, 2017 @ 17:23

Don’t panic: Espenilla says peso weakness is ‘controlled’


Don’t fret just yet.

Governor Nestor Espenilla, Jr. of the Bangko Sentral ng Pilipinas (BSP) went to comfort Filipinos and businessmen over the peso depreciation, saying that it’s not all bad as it sounds.

“Recently, the depreciation of the peso has been the cause of some market unease. Such concern is overdone,” Espenilla said during an economic forum.

“The peso’s moderate and controlled depreciation mirrors bullish economic growth,” the central bank governor added, pointing out strong imports and higher investments abroad held by Filipinos eyeing to expand their portfolio.

Overall, the peso will stand “broadly stable” despite such hiccups, Espenilla said.

The peso is back to trading at the P50 mark as of mid-November.

Please follow and like us:

Tags: , , , , ,

Related Stories
Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla Jr. said domestic inflation path has
Is the worst over for the currency?
Things aren't lining up for the currency's recovery.
The currency touched a fresh low in over a decade early September.


Trending News

Recommended on sister sites

Copyright © 2018 Bilyonaryo - Latest news on the richest Filipinos and Family Business.