Peso Under Pressure: Analysts Say PH Needs Fast Moves, Hindi Panic
The Philippine peso is still under pressure as the prolonged conflict in the Middle East keeps global markets on edge and strengthens the US dollar. In a report published by The Manila Times, analyst Froilan Calilung said the issue is not just about forex charts — ramdam ito sa grocery, fuel, at daily expenses of ordinary Filipinos.
Calilung said the peso is being squeezed by a “perfect storm” of external factors, especially higher oil prices and investor demand for the dollar during uncertain times. Because the Philippines relies heavily on imported crude and some food items, a weaker peso quickly pushes import costs higher and adds more inflation pressure at home.
He also warned that the crisis hits the country on two fronts. If oil prices keep climbing, the Philippines ends up paying a double premium: more expensive crude plus a more expensive dollar. At the same time, overseas Filipino worker families may receive more pesos on paper, pero nababawasan din ang buying power nila once higher local prices kick in.
Instead of trying to fight the market blindly, Calilung said government should focus on stability. He urged the Bangko Sentral ng Pilipinas to manage volatility in the foreign exchange market, be careful with interest-rate moves, and avoid sudden speculative swings. He also pushed for stronger local agriculture and renewable energy projects so the country is less exposed to global shocks.
Malacañang has already acknowledged that Middle East tensions are contributing to the peso’s slide, and lawmakers are also floating automatic relief measures for families and workers if the energy crisis worsens. For now, the message from analysts is simple: stay agile, protect vulnerable sectors, and avoid panic while the external storm is still raging.
Source: The Manila Times
