The country’s sound external liquidity position like the balance of payments  (BOP) is a useful buffer to counter external shocks that negatively affect  the movement of the peso, according  to the Bangko Sentral ng Pilipinas (BSP).

“The weakening of the peso was not totally unexpected, just like the weakening of the other regional currencies. It’s not totally unexpected because there remains uncertainty about the speed and the duration of the Fed taper,” BSP Governor Amando Tetangco Jr. said during the Annual Reception to the Banking Community.

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