PH 'willing to spend' to defend peso

PH 'willing to spend' to defend peso – Diokno

By Eireene Jairee Gomez

Oct 22, 2022 12:25 am

THE Philippines will dip into its reserves to stop the peso from further depreciating against the dollar, Finance Secretary Benjamin Diokno was quoted as saying on Friday.

In an interview with Bloomberg in Bangkok, Diokno said: 'We are willing to spend some more just to defend it. Let's not worry about drawing down reserves. That's the reason why we're building up our buffers.'

Finance Secretary Benjamin Diokno File Photo

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