Sunday, February 5, 2023
manilastandard.net
ADVERTISEMENT
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • Advertise with Us
No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • Advertise with Us
No Result
View All Result
manilastandard.net
No Result
View All Result
Home News

NEDA: ‘Pamasko’ to bolster peso

Manila StandardbyManila Standard
September 24, 2022, 2:10 am
in News, Top Stories
Reading Time: 2 mins read
A A
Share on FacebookShare on TwitterShare on Email

The influx of “pamasko” (Christmas gift) and holiday remittances will strengthen the peso against the US dollar in November and December, an official of the National Economic and Development Authority said Friday.

NEDA Undersecretary Rosemarie Edillon said in a briefing Friday the peso’s depreciation against the greenback is also “likely temporary”.

The peso hit a new all-time low of P58.50 against a dollar on Friday after the dollar rallied, driven by the US Federal Reserve’s big time interest rate hike and the signal that it plans to implement more.

“We are hoping that is very temporary. In the case of the Philippines, we are hoping to see some stabilization toward November, December.

Historically this is when we receive many remittances, pamasko na padala (Christmas gifting). This will also prop up the peso,” Edillion said.

ADVERTISEMENT

The government is not yet revising its July peso-dollar exchange rate assumption, which is currently at the range of P51 to P53 for 2022 and P52 to 55 for 2023, she added.

While a higher dollar value is good for families of overseas Filipino workers, Edillion said “we are hoping they will keep their purchases in the country.”

Local manufacturers and exporters will also be able to use the weakness of the Philippine peso to capture more market share in the international market. A cheaper peso makes Philippine products cheaper.

“We are hoping our domestic producers and exporters take advantage of this weakness in Philippine peso. If we are able to do that, we increase those gains, and hopefully, that will generate more opportunities and more income for Filipinos,” Edillon said.

The Bangko Sentral ng Pilipinas, which hiked interest rate to 4.25 percent to cool down inflation, said the peso movement is normal in a growing economy. But some economists are concerned with the depreciating peso since the US dollar is used to pay for imports, including petroleum products.

Edillion said the government is aggressively pursuing medium-term plans to support domestic food production, which would reduce the need for food imports in the future.

Tags: Christmas giftholiday remittancesNational Economic and Development AuthorityUS dollar
ADVERTISEMENT
Manila Standard

Manila Standard

Related Posts

‘Western arms won’t be used to hit Russia’

byAFP
February 5, 2023, 6:30 pm
0
8
Southwoods nails Seniors’ Fil golf crown

Ukraine’s President Volodymyr Zelensky agrees that weapons supplied by the West will not be used to attack Russian territory, Germany’s...

Read more

Pope urges end to ethnic hatred in South Sudan

byAFP
February 5, 2023, 6:20 pm
0
8
UN: World must brace for more extreme, devastating wildfires

Pope Francis appealed Sunday to the people of South Sudan to lay down their “weapons of hatred” at an open-air...

Read more

Pakistan’s former military ruler Pervez Musharraf dies—Army

byAFP
February 5, 2023, 6:10 pm
0
8
Pakistan’s former military ruler Pervez Musharraf dies—Army

Pakistan’s former military ruler Pervez Musharraf has died in Dubai aged 79 after a long illness, the army said Sunday....

Read more

US cargo train derails, causing massive fire

byAFP
February 5, 2023, 6:00 pm
0
8
Southwoods nails Seniors’ Fil golf crown

A cargo train derailed in the midwestern United States, sparking a massive fire and triggering the release of small amounts...

Read more

Amazon Sets a New Record for Most Renewable Energy Purchased by a Single Company

byThe Standard
February 5, 2023, 2:10 pm
0
8

The company’s renewable energy portfolio now totals more than 20 GW, and will generate enough clean energy to power 5.3...

Read more

Nine missing after fishing boat capsizes in South Korea

byAFP
February 5, 2023, 12:00 pm
0
8
Southwoods nails Seniors’ Fil golf crown

Rescue workers were searching by sea and air for nine people missing after a fishing boat capsized in waters off...

Read more

Print Edition

View More

Recent Posts

  • ‘Western arms won’t be used to hit Russia’
  • Pope urges end to ethnic hatred in South Sudan
  • Pakistan’s former military ruler Pervez Musharraf dies—Army
  • US cargo train derails, causing massive fire
  • Coach Tiu: Dubai tourney good experience for Strong Group
  • Amazon Sets a New Record for Most Renewable Energy Purchased by a Single Company
  • Kaspersky Threat Intelligence enhances its threat data feeds, threat analysis, brand protection capabilities
  • Check out Tommy Hilfiger’s February 6 store launch on Shopee

Advertisement

Latest News

Amazon Sets a New Record for Most Renewable Energy Purchased by a Single Company

byThe Standard
February 5, 2023, 2:10 pm
0
8

The company’s renewable energy portfolio now totals more than 20 GW, and will generate enough clean energy to power 5.3...

Read more

Kaspersky Threat Intelligence enhances its threat data feeds, threat analysis, brand protection capabilities

byMST Tech
February 5, 2023, 12:31 pm
0
8
Kaspersky Threat Intelligence enhances its threat data feeds, threat analysis, brand protection capabilities

The latest release of Kaspersky Threat Intelligence service includes a range of improved feeds that contribute to a deeper understanding...

Read more

Check out Tommy Hilfiger’s February 6 store launch on Shopee

byMST Tech
February 5, 2023, 12:29 pm
0
8
Check out Tommy Hilfiger’s February 6 store launch on Shopee

Filipinos don’t mind paying extra to items that flaunt their success, because, after all, they deserve the best things in...

Read more

Nine missing after fishing boat capsizes in South Korea

byAFP
February 5, 2023, 12:00 pm
0
8
Southwoods nails Seniors’ Fil golf crown

Rescue workers were searching by sea and air for nine people missing after a fishing boat capsized in waters off...

Read more

Endangered monarch butterflies face perilous storm

byAFP
February 5, 2023, 11:30 am
0
8
Endangered monarch butterflies face perilous storm

As devastating storms pounded California, nature lovers feared for endangered monarch butterflies that winter there as part of a seemingly magical...

Read more

Advertisement

ADVERTISEMENT
Facebook Twitter Instagram Youtube

ABOUT US

Manila Standard

Manila Standard website (manilastandard.net), launched in August 2002, extends the newspaper’s reach beyond its traditional readers and makes its brand of Philippine news and opinion available to a much wider and geographically diverse readership here and overseas.

Digital Edition

In tone and content, the online edition mirrors the editorial thrust of the newspaper. While hewing to the traditional precepts of fairness and objectivity, MS believes the news of the day need not be staid, overly long or dry. Stories are succinct, readable and written in a lively style that has become a hallmark of the newspaper.

Download – Today’s Paper

Search

No Result
View All Result

6th Floor Universal Re Bldg., 106 Paseo De Roxas cor. Perea Street, Legaspi Village, 1226 Makati City Philippines

Trunklines: 832-5554, 832-5556, 832-5558

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Pop.Life
    • Newsmakers
    • Hangouts
    • A-Pop
    • Post Its
    • Performances
    • Malls & Bazaars
    • Hobbies & Collections
  • Technology
    • Gadgets
    • Computers
    • Business
    • Tech Plus
  • MS ON THE ROAD
    • Sedan
    • SUV
    • Truck
    • Bike
    • Accessories
    • Motoring Plus
    • Commuter’s Corner
  • Home & Design
    • Residential
    • Commercial
    • Construction
    • Interior
  • Spotlight
  • Gallery
    • Photos
    • Videos
  • Events
    • Seminars
    • Exhibits
    • Community
  • Biyahero
    • Travel Features
    • Travel Reels
    • Travel Logs
  • Pets
  • Advertise with Us

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Install Manila Standard Web App

Install App