The continued depreciation of the Philippine peso against the US dollar does not mainly reflect fundamental weakness in the local currency, an economist from the Asian Development Development (ADB) said.
During the Asian Impact Webinar on Wednesday, Sept. 21, Abdul Abiad, ADB Macroeconomic Res
Peso plunges to ₱58 vs dollar; PSEi sinks back to 6,300 level cnnphilippines.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cnnphilippines.com Daily Mail and Mail on Sunday newspapers.
The Asian Development Bank has lowered its forecast for developing Asia and the Pacific, but the region is still expected to grow by 4.3 per cent this year.
ADB keeps PHL GDP forecast at 6 5% - BusinessWorld Online bworldonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bworldonline.com Daily Mail and Mail on Sunday newspapers.