‘Strong fundamentals to cushion peso vs dollar’

The Philippines’ macroeconomic fundamentals remain strong and will continue to support the peso against a strengthening US dollar even as the US economic recovery gains headway, the central bank governor told the House of Representatives on Monday.

Explaining the country’s economic and monetary conditions before members of the Committee on Appropriations, Bangko Sentral ng Pilipinas (BSP) Amando Tetangco Jr. stressed that the economy has been posting positive gross domestic product (GDP) expansion for 65 consecutive quarters from 1999 to 2014 and is set to grow further.