By Prince Golez
Malacañang on Monday welcomed a report that the Philippine peso closed at 48.065 to the US dollar last Friday.
Presidential Spokesperson Harry Roque attributed the peso’s performance to the “all-time high” gross international reserves (GIR).
According to the Bangko Sentral ng Pilipinas, the country’s GIR level, as of January 15, rose to US$109.8 billion from November’s US$104.82 billion.
“Ito na po ang pinakamataas at pinakamalakas na pagasasara ng peso sa mahigit na apat na taon,” said Roque.
“Bagamat marami ang nagsasabi na ang malakas na peso ay hindi rin, altogether, nakakabuti dahil nagiging mahal ang ating exports, eh kahit papano patunay yan na marami ang nagkukumpiyansa sa ating ekonomiya,” he concluded.
Source: Latest Politics News Today (Politics.com.ph)
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