Peso weakens against Us Dollar

Amando Tetangco Jr., the governor of Philippine central bank,

Bangko

Sentral

ng

Pilipinas,

attributed

the

weakness

to

uncertainty over when the U.S. Federal Reserve would increase

interest rates, an action which would likely strengthen the dollar
and weaken emerging market currencies, the Philippine Star
reported on Tuesday. He also cited strong demand for dollars for
corporate purposes, the report said.
It may be the reason why our currency is weakening against
the US dollar but in my opinion, I do believe on what others is
saying that the current situation of our Peso is a result of our
Presidents behaviour. Since the last financial crisis in 2009 our
currency has been able to withstand the economic slowdown and
our peso has been stable. However, since the time that he
disrespected the US President Obama who in return cancelled his
meeting to with our president, the countrys financial market is
stepping downwards and business investors is restraining to
invest in the country.

As Mizuho bank states "while investors

were initially willing to discount the new president's sometimes

shocking rhetoric as merely for guffaws to a domestic audience,
things took a sharp turn when his acerbic retort to Obama led to
real

consequences."

Khoon

Goh,

senior

foreign-exchange

strategist at ANZ, also said. "We've seen foreigners selling out of

the Philippine equity market on a consistent basis in the past
month or so."

BONIFACIO G. ALASTOY
MBA-FINANCIAL MANAGEMENT

In last week exchange rate the peso has recover a bit, but
how long? I think the president should consider making friends
with the other countries of world be it a strong or weak. As human
being he must show respect to people specially those who can
contribute to the achievement of the Philippine Economic Agenda,
which until now NEDA is drafting. Making friends with other
presidents and head of states is one way of attracting investors, if
the president will not stop on firing words that is rude and madmannered to other powerful head of states, I think our country will
be left aside by the worlds economic community. I hope for the
better and best for the country. Change is coming as they said; I
pray that our president consider changing his arduous behaviour
with

regards

to

our

requirements.

BONIFACIO G. ALASTOY
MBA-FINANCIAL MANAGEMENT

countrys

economic

and

financial