BSP not inclined to defend peso

By Tiziana Celine Piatos

Sep 05, 2022 12:17 am

THE Bangko Sentral ng Pilipinas (BSP) is not inclined to take steps to defend the Philippine peso despite the local currency's struggle last week against the United States dollar.

The peso closed at a new low of P56.77 to the US dollar on Friday and fell to as low as P56.90 during intraday trading. The P56.77 was the lowest since the P56.45 logged in 2004.

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