The peso is unlikely to post a record drop next year, a Cabinet official said on Wednesday, rejecting a research firm’s claim that the currency, which fell to a near 13-year low of P54.13 last week, could plunge to P58:$1 by the end of 2019 given pressures from a widening trade deficit and the government’s “Build Build Build” program.
Budget Secretary Benjamin Diokno. PHOTO BY ROGER RANADA