The Philippine peso remains competitive as its volatility and movement remains in the middle of the range in the region on account of the weakness of the US’s economy and the Euro debt crisis.
Bangko Sentral ng Pilipinas (BSP) Gov. Amando Tetangco Jr. said the local currency remains healthy, enabling Filipino businessmen to plan more effectively.
He said the volatility of the peso against the US dollar stood at 1.14 percent as of April 4 this year when the local unit closed at 42.8 to a dollar.
Those with higher volatility are the Korean won at 1.15 percent, Singapore dollar at 1.16 percent, Thailand baht at 1.38 percent, and Japanese yen at 3.33 percent. –Daily Tribune
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