00:00The lowest value of the Peso Contra Dolyar in more than two years was recorded today.
00:07The effect is more in the price of the first purchases.
00:11Let's find out from Maki Pulido.
00:16From P56 per dolyar in October, the exchange closed today at P59 per dolyar.
00:23This is the record low or the lowest value of the Peso in more than two years.
00:28To be honest, Claire should be happy because she has a bigger exchange than the dolyar
00:32that was sent by her husband in America.
00:35But she doesn't feel it because the price of the purchases and payments are rising at the same time.
00:40It also covers the higher commodity or goods that you buy in the market.
00:46It's like a break-even.
00:48We are import-dependent or many of the products we use are from other countries.
00:54Economist Professor Emanuel Leico said,
00:57U.S. dollars is what importers pay for the products they import.
01:01So if the dolyar is higher, the income is higher and it will be reimbursed to the consumers.
01:06Immediately, the price of what we import will increase.
01:11When we import oil, gasoline, fuel,
01:17when we import consumer products,
01:21our payment is in dolyar.
01:24Those imported products are transported by ships.
01:27The problem, said Mary Zapata of the Adwana Business Club,
01:30is that the shipping lines that pay in dolyar are getting more and more charges.
01:35There is also a peak season charge because of Christmas and the import congestion fee.
01:40The shipping line charges are increasing.
01:42All in dollars.
01:44Our exchange rate is also increasing.
01:46It's a burden not on the importer, but on the consumer.
01:50Because all of that will be spent.
01:53The landed cost will increase. It's expensive.
01:56Professor Leico thinks that the increase in the value of dolyar
01:59is due to the victory of Donald Trump as U.S. President.
02:02But this can only be temporary.
02:04Unlike before, when the interest rate of America increased, the exchange rate also increased.
02:09The exchange rate also decreased.
02:12But this is not the case.
02:14So it is harder to understand.
02:20Other than, Trump is the euphoria of American businessmen.
02:28The Central Bank of the Philippines has yet to announce the balance of the peso against the dolyar.
02:33For GMA Integrated News, Macky Pulido, for Tutok, 24 hours.
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