PRESIDENT Ferdinand R. Marcos Jr. has assured the public that the national government possesses sufficient means — including healthy foreign exchange reserves — to defend the Philippine peso amid the currency’s continued decline against the US dollar.
The President emphasized this capability as the local unit trades at historic lows, driven by stronger demand for the greenback and rising global crude oil prices. He stated that the country’s reserve holdings provide a vital buffer to manage volatility and maintain stability in the foreign exchange market.
Beyond currency measures, the President also reaffirmed the administration’s ongoing commitment to bringing down food prices and easing the financial burden on Filipino households. He acknowledged the combined pressures of a weaker peso and elevated commodity costs, noting that these affect the daily lives of families across the nation. Various government agencies are coordinating to boost food supply chains, control inflation, and implement targeted assistance programs designed to cushion the impact of rising expenses on the most vulnerable sectors of society.
The President’s remarks come as the peso has set multiple record lows this year, prompting concerns over higher costs for fuel, electricity, and imported goods. While acknowledging the challenges posed by external economic conditions, Marcos expressed confidence that the country’s economic fundamentals and policy actions will help steer the currency toward stability. He urged the public to remain assured that the administration is taking decisive steps to protect both the national economy and the welfare of every Filipino family.
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