Malacañang has acknowledged that the peso will continue to feel pressure against the US dollar as long as tensions in the Middle East persist.
The Palace made the statement after the peso slid further to ₱60.16 to the dollar, marking its weakest level yet.
Communications Undersecretary and Palace Press Officer Claire Castro stressed that the situation is an unavoidable consequence of global instability.
“Hindi po ninais ng Pangulo na magkaroon ng gulo sa Middle East. Ito ay talagang epekto ng geopolitical tension,” Castro said.
She assured the public that the administration is taking steps to cushion the impact of the conflict, expressing hope that the war will end soon so the Philippines—and other affected nations—can recover.
Despite the peso’s decline, Castro emphasized that the government will not relent in providing assistance to Filipinos directly affected by the crisis.