It’s the nature of the exchange rate to fluctuate,” Espenilla said. “As far as the BSP is concerned, we’re managing excessive volatility,” Espenilla said. He said the approach of Bangko Sentral remained to let the exchange rate reflect underlying market conditions. BSP Governor Nestor Espenilla Jr.“What we look at isn’t much the exchange rate but the underlying conditions. Today, the underlying conditions are quite healthy, as a result prices reflect those condition… Our focus is keeping inflation low and banking system strong.

Source: The Standard July 11, 2017 13:30 UTC