Albay Representative Joey Salceda said the value of the Philippine peso could further sink in the coming days to P65-68 as against the United States dollar.
"Frankly, there's not much we can do. To return to stable core inflation, the U.S. needs to achieve 5% disinflation that it achieved in the early 1980's, and that took 6,500 basis points in interest rate hikes... So, hang on. This is still bound to be quite a ride," Salceda, an economist, said on Friday."The Philippine currency is actually in middle of the pack.
Meanwhile, some Overseas Filipino Workers have taken advantage of the situation and started exchanging their dollars.
yikes.
Kuryente sa San Jose City Nueva Ecija pumalo na sa PHP 20/kwhr.
Ilunsad na Ang mga self sufficient programs please Ng Hindi nakaasa sa dollars mga bilihin sa Pinas.
No...
𝙂𝙤𝙡𝙙𝙚𝙣 𝙀𝙧𝙖!
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