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Peso weakens against the dollar

The peso weakens against the dollar on the first day of trading on Monday, November 14, 2016.

The foreign exchange rate as of 12 noon is at P 49 per dollar.

It was at P 48.9 per dollar on Friday last week.

Department of Budget (DBM) Secretary Benjamin Diokno sees no reason why this should be a cause for concern.

The secretary says, Filipino Overseas Workers (OFWs), exporters and the business process outsourcing (BPO) industry benefit from this development in foreign exchange.

 

Topics: DBM , peso , dollar
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