INSTEAD of being alarmed by the peso's depreciation against the US dollar, economic managers and other policymakers should try capitalizing on the advantages. That may seem odd for some people because politicians often equate a strong peso with a healthy economy. But in actuality, changes in every economic indicator benefit some people and at the same time, hurt others. That is why interpreting changes in the economy can be challenging.
For now, the Philippines is a net importer, meaning Filipinos buy more things from abroad than what they export. If exports can grow, that will benefit local manufacturers that sell abroad.Also, higher prices of imports push people to seek local substitutes. Those who have been advocating for consumers to buy more Filipino-made items should welcome the peso's current exchange rate.Simpler saidOf course, nothing is as simple as it seems, especially in economics.
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