Weaker peso better

The government should maintain a balance in the exchange rate of the peso against the US dollar to enable migrant Filipino workers and exporters to benefit, Finance Secretary Carlos Dominguez III said Thursday.

“For me I would prefer a peso that is slightly weak. Because our (workers) benefit, and also, the exporters benefit,” he said.

Dominguez added the economy was stable and would remain relatively as such next year. 

“We will slightly weaken because the dollar interest rate might go up, but I don’t think it will be very serious, that our peso will go 50 (against the US dollar). I think it will stay around where we are at the moment,” he added.