THE Bangko Sentral ng Pilipinas (BSP) said the recent movements of the Philippine peso can be related to a shift in the foreign exchange market caused by a combination of external and local developments.
During a virtual briefing on Thursday, BSP Governor Benjamin Diokno said the peso depreciated versus the US dollar by 4.62 percent year-to-date, closing at 50.35:$1 on July 21, 2021, up from 48.02:$1 at the end of December 2020.
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