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NewsTranscript
00:00The strength of the dollar is a big problem for those who choose to buy in the Philippines because of the effect of the love of the products.
00:07And today, the value of the Peso Contra Doliar fell to the lowest level in more than 2 years.
00:15Witnessed by Mackie Pulido.
00:21In just a month, the value of each dollar increased by more than Peso.
00:25From P57.59 on October 21, earlier, the exchange closed at P59.00.
00:33Claire should be happy because she will be able to exchange a lot for the dollar sent by her husband in America.
00:39But this is not felt because of the equal love of buying and paying.
00:44It also covers the higher commodity or goods that you buy in the market. It's like a break-even.
00:51The record low recorded the exchange rate of the lowest Peso since October 17, 2022.
00:59According to the BSP or Banco Central ng Pilipinas in their annual report of 2022,
01:04a big reason for the decrease of Peso was the increase of their key rates in America,
01:09or the value of the bank if they will set an interest rate on loans.
01:14The same is true for the restriction of COVID-19 quarantine protocols since 2022 and the war between Russia and Ukraine.
01:21Now, an economist thinks that one of the reasons for the strength of the dollar is the victory of Donald Trump as the U.S. President.
01:29But this can only be temporary.
01:31Unlike before, if the interest rate of America increases, the exchange rate will also increase.
01:35If the exchange rate decreases, it will also decrease.
01:38But this is not. It is harder to understand.
01:44Other than, this Trump is the euphoria of American businessmen.
01:52How affected are those who will buy this?
01:54According to Professor Layko, we are import-dependent or many of the products we use are from other countries.
02:01The price of these imported goods is U.S. dollar.
02:04If the price increases, the cost of the goods will also increase and the consumers will benefit.
02:09Immediately, the price of the goods we import will increase.
02:14When we import oil or gasoline, when we import consumer products, our payment is in dollars.
02:24Those affected are also those who will transfer the goods they import using ships.
02:29The payment is also in dollars for the additional charges of the shipping lines.
02:33And because it's Christmas, there is a peak season charge and port congestion fee.
02:37The shipping line charges are increasing.
02:40All in dollars.
02:41Our exchange rate has increased.
02:44It's not for the importer, but for the consumer.
02:47Because all of that will be spent.
02:49The landed cost will increase.
02:52It's expensive.
02:53The BSP has not yet announced the price of the dollar.
02:57But they said before that they are monitoring.
03:00The BSP will enter if the price of the dollar increases quickly.
03:04For GMA Integrated News, I am Mackie Pulido, your witness.
03:23Transcription by ESO, translation by —