Finance chief notes gains under previous administrationsEconomic growth under the past two administrations has taken the edge off the peso’s weakening, Finance Secretary Carlos Dominguez 3rd said. Not all sectors will benefit from a weaker peso, Dominguez noted, but families of overseas Filipino workers (OFWs) will particularly welcome getting more for every dollar sent home. “We do not manage the exchange rate. That is determined by the market,” Dominguez said. The peso fell into P51 per dollar territory last month as the prospect of war on the Korean peninsula spooked investors.

Source: Manila Times September 01, 2017 17:48 UTC