Sandro Marcos, a politician, makes a statement regarding the dollar and the peso and provides the public this advice.
He engages with the economic team. The USD/PHP exchange rate is now Php 59.02 to $1.00 as of October 11.
Additionally, Ferdinand Alexander “Sandro” Marcos, the representative for Ilocos Norte’s 1st District, just spoke on the topic of the peso and the dollar in an interview.
He made “one thing clear” he stated, the peso is not weak. He claims that the peso is only weak because the dollar is strong. The US dollar, in his perspective, is the most stable currency.
“Ang nangyayari ay lahat ng mga tao kapag may krisis ay bumibili ng dollar. Kapag binibili yung dollar, ang demanda ng dollar tumataas. Which means, againts other currencies, it becomes stronger,” the young Marcos continued.
Since the Philippines has “a significant amount of dollar reserves”, young Marcos also expressed, “An option would be, potentially, to sell off the dollar reserves to be able to taper. Tataas pa rin yung value nung dollar pero hindi gaano kalaki.”
However, internet users have different viewpoints and responses to his explanations.
Here are a few comments.
I’m not hungry because I have not eaten, I am hungry because there is no food on the table. there is no food because no money, no money because no job, no job because no education, no education because i am poor , i am poor so i am are hungry