A lawmaker on Saturday opined that the depreciation of the peso against the US dollar can be seen as a boon for the country. “A weak peso is good for our exporters who earn in dollars. And as the demand for the dollar increases, its value also climbs against other currencies, including the peso,” Pimentel noted. They generate revenues in dollars, but spend for their operations here, including the wages of their employees, in pesos,” the lawmaker added. Based on data from the Philippine Dealing System, the peso averaged P42.44 to a dollar in 2013; P44.39 in 2014; and P45.50 in 2015.

Source: Manila Times October 08, 2016 14:15 UTC