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Manila Bulletin devider Philippines devider National devider Palace remains confident BSP is taking all measures to prevent further weakening of peso

Palace remains confident BSP is taking all measures to prevent further weakening of peso

Published May 25, 2026 05:52 pm
Despite the weakening of Philippine peso, Malacañang remains confident that the Bangko Sentral ng Pilipinas (BSP) is on top of the situation.
BSP Governor Eli Remolona recently stated that the Philippine peso dipping to P63.50 per US dollar would be acceptable as long as the decline is measured.
At present, the Philippine peso is hovering around P61.46.
Malacañang, however, is confident that the BSP is doing everything it can to prevent the peso from further decline.
"Ang economic team po kasi at ang BSP po ay nagtatrabaho in sync in maintaining microeconomic stability and safeguarding the purchasing power of the Filipinos, so lahat po ay dapat na gawin (The economic team and the BSP are working in sync in maintaining macroeconomic stability and safeguarding the purchasing power of Filipinos, so everything that can be done should be done)," Palace Press Officer and Communications Undersecretary Claire Castro said in a Palace briefing on Monday, May 25.
"Sa lahat na makakaya ay dapat na gawin para mapigilan ang pagbaba ng value ng peso dahil alam naman natin kung ano ang kinakaharap natin, hindi lang ito lokal na problema kung hindi kumakaharap tayo sa isang global oil prices maliban pa po sa mga panggugulo ng ibang mga grupo sa ating gobyerno. So, ilan lamang ito sa mga factors (All possible measures should be taken to prevent the depreciation of the peso because we know what we are facing—this is not only a local problem, but we are also dealing with global oil prices, aside from the disruptions caused by certain groups within our government. So, these are just some of the factors)," Castro added.
"At naniniwala pa rin po ang ating pamahalaan sa ginagawa po ng BSP (And our government still believes in what the BSP is doing)," she further said.
The Palace official also said that the BSP is an independent body that operates within its mandate and is influenced by global factors, including shifts in United States interest rates, the Middle East conflict, higher oil prices, and market sentiment.
She added that the BSP continues to monitor these developments.

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Malacañang BSP Philippine peso Eli Remolona Jr. Claire Castro
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