Malacañang on Thursday sought to ease concerns over the peso’s fall to ₱59.44 against the dollar, attributing the decline to global and local factors while reaffirming President Ferdinand “Bongbong” Marcos Jr.’s anti-corruption campaign.
“Lagi naman din pong nagkakaroon ng pagmi-meeting ang BSP at ang Pangulo,” Communications Undersecretary Claire Castro said, noting close coordination with the Bangko Sentral ng Pilipinas.
She cited external pressures such as the stronger dollar, speculation on U.S. Federal Reserve policy, and tensions between the U.S. and Venezuela.
Despite the peso’s weakness, Castro stressed, “Kampante ang ating Central Bank na hindi pa sila dapat magkaroon ng intervention,” adding that authorities remain focused on curbing inflation, supporting investments, and strengthening the economy.
She admitted the administration’s crackdown on anomalous flood control projects has affected market sentiment but emphasized the Palace’s resolve.
“Minabuti pa rin po ng Pangulo na linisin po ang gobyerno laban sa maanomalyang flood control projects, laban sa mapang-abusong paggamit ng pondo ng bayan,” Castro said.
Marcos, she added, is prepared to absorb economic fallout to restore credibility.
“Ang nais po ng Pangulo ay maging transparent at maipakita sa taumbayan na ginagawa ng gobyerno ang paglilinis ng pamahalaan laban sa korapsiyon,” she said.