Wednesday 18 July 2018
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1 months ago

Workers raise alarm over peso fall

Labor groups have voiced alarm over the drop of the peso against the US dollar to its lowest level in 12 years, but some business groups are not worried. The peso closed at P53.27 to a dollar on Thursday, a further deterioration from the P53.23 the day before and a big drop from Monday s P52.95. At P53.27, the currency is higher than the government exchange rate assumption of P50 to P53 for 2018. It s no cause for concern, said George Barcelon, chair of the Philippine Chamber of Commerce and I

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