breaking news!huwag ninyo iisi ang paghina ng peso on Duterte's mouth, says Vivian Yuchengco
The peso fell to 48.245 against the U.S. dollar on Tuesday.
Also, Presidential adviser on economic affairs Ramon Jacinto said Tuesday that the weakening peso should not be blamed on President Rodrigo Duterte's administration's war against drugs.
"I don’t think the deterioration of the peso is really a result of what he’s been doing, it’s the world market too," Jacinto said.
He said the Philippine peso is also falling because of imports ahead of the Christmas season.
Jacinto claims that the president is becoming more independent in its foreign policy.
"Traditionally, we’ve always been dependent to the States…we don’t have to depend now on any country,” he said. MJM