00:00 The value of Peso Contra Doliar fell to the lowest level in the last 11 months.
00:06 Yesterday, the exchange rate of Pesos was closed at P58.68 per Doliar, the lowest since November 3, 2022.
00:14 This is a favorite among the OFW's who are accepting the exchange rate of Doliar.
00:19 But it can result in the price of imported products like oil.
00:25 According to economist Michael Rickford, the decline of the local manufacturing sector in May is related to the Peso Contra Doliar.
00:35 The Central Bank of the Philippines said that the decline of Peso is temporary.
00:41 The decision of the US Federal Reserve is affected by this and it should not lower the interest rate.
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