Palitan ng Piso kontra Dolyar, nagsara sa 1USD = P58.635; pinakamahina mula noong November 2022 | SONA - video Dailymotion

GMA Integrated News

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Transcript

00:00 The dollar's value today has fallen to 58 pesos and 64 centavos.

00:05 It's the lowest since November 2022.

00:09 This was welcomed by some of our countrymen who are exchanging.

00:12 The Central Bank of the Philippines forecast

00:15 if the dollar will continue to fall in the report of Bon Aquino.

00:19 John Makapinlac was surprised when he exchanged the 200 US dollars that he sent from America.

00:29 The expenses are dropping.

00:31 Your expenses are decreasing because the exchange rate is increasing.

00:36 Instead of paying 1,000 pesos, you're exchanging 1,200 pesos.

00:45 You have an extra 200 pesos.

00:47 Reggie is exchanging pesos for his brother's expenses when he goes to Japan.

00:51 He exchanged 10,000 pesos for 170 US dollars.

00:56 If it's lower, it's better.

00:58 Today, the exchange rate of pesos to dollars fell to 58.63.

01:02 It's the lowest value of pesos since November 2022

01:06 when the peso against dollars fell to 58.8.

01:10 It's a favor for some OFW relatives to lower their peso.

01:14 This is affected by the price of the products we import, such as crude oil and gasoline.

01:20 Those who are affected by this cannot afford to be rich because they have to buy expensive things.

01:28 For example, cars, houses, travel, they are eating.

01:33 But it's possible that the exchange rate will return to the 57 peso level at the end of the year.

01:38 The peso increases in December because OFW relatives are coming back or sending more money.

01:49 The Central Bank of the Philippines believes that the peso decrease is only temporary.

01:55 We do not target any specific exchange rate level.

01:59 We just let the market determine the level of exchange rate.

02:03 If we let the market stress to be left unattended, this would affect inflation expectation.

02:09 And that's something that we are avoiding.

02:12 Von Aquino reporting for GMA Integrated News.

02:16 [music]

Palitan ng Piso kontra Dolyar, nagsara sa 1USD = P58.635; pinakamahina mula noong November 2022 | SONA

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