Latest Breaking News On - He weakening is only temporary like when the forex foreign exchange was at php54 to usd1 00 in september october 2018 - Page 1 : comparemela.com
(PNA file photo) MANILA-A party-list lawmaker on Saturday said the government should consider providing rice subsidy of 10 to 50 kilos for poor to middle-income households as the depreciation of the Philippine peso could lead to higher prices of goods and services and overall inflation. In a statement, Bagong Henerasyon Party-list Representative Bernadette Herrera said local fuel prices will rise further because it now takes more pesos to import foreign oil. "All the economic agencies must prepare for another surge of inflation because of the weakening of the peso. Hopefully, the weakening is only temporary like when the forex (foreign exchange) was at PHP54 to USD1.00 in September to October 2018," Herrera said. "Economic forecasts indicate we will have high inflation for many more months until the inflation pressures have subsided." Last Friday, the peso depreciated further to 54.985 against the greenback from its 54.7 close a day ago. Aside from rice subsidies, H