With this good sign, the Monetary Board can finally focus on inflation targeting rather than foreign exchange rate management, Medalla said.
In a report from Reuters, Medalla said it will not be “the end of the world” if the Philippine Peso hits 61 versus the dollar.
The BSP advises the companies in the industry to purchase dollar requirements from legit sources only.
Salcedo gave a possible economic solution which can be a mix of policy and program intervention. He suggested that the government needs to encourage the “Big 4” in service Dollar earners.