Economist-congressman Joey Salceda doesn’t see anything wrong with Ilocos Norte 1st district Rep. Sandro Marcos’s statement wherein the latter says the Philippine peso isn’t weak, per se.
“The fact that there is even controversy about Rep. Sandro’s remarks reflects what some quarters would do just to make an issue,” said Salceda, who represents Albay’s 2nd district.Salceda, chairman of the House Ways and Means Committee, was referring to Marcos’s assessment on the foreign exchange rate wherein the Ilocano said, “The peso is not weak because the peso is weak. The peso is weak because the dollar is strong.
“The peso is actually stronger now against major global currencies like the Euro, the Yen, or the Pound than it used to be last year,” Salceda said. Salceda also agreed with the Ilocos Norte lawmaker’s take that the greenback–during hard times–becomes the go-to currency for stakeholders, thus driving up its demand.
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