Monday's close was lower than the previous record ofLocal economists noted that inflation has forced central banks worldwide to hike interest rates, meaning higher borrowing costs.
While the recent higher exchange rate appears to be favorable for overseas Filipino workers like Tecson—as well as local dollar earners like freelancers, exporters, and BPO companies—economists stress that it actually does more harm than good to the Philippine economy. Sy siblings top Forbes 'Philippines' 50 Richest' list again; entrants see decline in net worth amid COVID-19, inflation
While it remains speculative at the moment, Reside and Asuncion don’t discount the possibility of the peso surpassing P60.00 per dollar any time soon. Asuncion said the government must also monitor vulnerable basic products and protect supplies so as not to further aggravate inflationary tendencies.Walter Bollozos/The Philippine STAR
philstarlife On the contrary! You can't buy shit.
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