Ilocos Norte 1st district Rep. Sandro Marcos recently wore his economist’s hat to comment on the weakening Philippine peso.
“I would like to make one thing clear…the peso is not weak because the peso is weak. The peso is weak because the dollar is strong,” Marcos told local reporters in his district during a recent press briefing.
“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,” explained Marcos, who in 2017 earned his master’s degree in Development Studies from the London School of Economics and Political Science.
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