Currencies
Philippines Signals It Won’t Intervene to Cap Peso Strength
The peso outperformed emerging Asian currencies after Remolona’s comments, climbing to its strongest level since March 2024.
Photographer: Brent Lewin/BloombergPhilippine central bank Governor Eli Remolona signaled authorities are unlikely to intervene to curb the strength in the peso, sending the local currency to the highest in more than a year.
“This is a story of dollar weakness,” Remolona said in a mobile-phone message on Wednesday. “To intervene now would be to go against the tide.”