‘Let’s calm down’ – Espenilla

The economy remains on track despite the peso’s recent weakness and reduced growth estimates, the chief of the Bangko Sentral ng Pilipinas (BSP) said.

“The peso is market-determined. It’s natural for it to show volatility as it adjusts to market conditions and all the short-term uncertainties such as increased tension in North Korea,” central bank Governor Nestor Espenilla Jr. said in a message to reporters on Sunday.