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Photo illustration of US dollar to PH peso exchange in this photo taken on September 30, 2022. Gigie Cruz, ABS-CBN News

Article (news)

Peso-dollar

Katrina Domingo

ABS-CBN News

MANILA &mdash; The Philippines remains &ldquo;focused on fiscal discipline and more efficient use of public funds&rdquo; as the peso continues to tumble against the US dollar, the Malaca&ntilde;ang said on Thursday, a day after the peso closed at an all-time low of <a href="https://www.abs-cbn.com/news/business/2026/9/2/peso-hits-new-all-time-low-of-p62-65-vs-dollar-during-intraday-trading-1041" rel="noopener noreferrer" target="_blank">P62.56</a> against the American currency.The Office of the Executive Secretary attributes the recent weakening of the peso to the &ldquo;broad US dollar strength and rising global prices of oil,&rdquo; Communications Undersecretary Claire Castro told Palace reporters.&ldquo;The administration&rsquo;s approach is focused on fiscal discipline and more efficient use of public funds,&rdquo; she said.&ldquo;This means reviewing spending proposals carefully and prioritizing programs that have high economic and social returns,&rdquo; she said.&ldquo;Kailangan magkaroon ng disiplina kung paano gagastusin ang pondo para maka-improve ng ekonomiya ng bansa,&rdquo; she added.<div><a href="https://www.abs-cbn.com/news/business/2026/9/2/peso-hits-new-all-time-low-of-p62-65-vs-dollar-during-intraday-trading-1041">Peso hits new all-time low of P62.565 vs dollar </a></div>The Palace also expects the Bangko Sentral ng Pilipinas (BSP) &ldquo;to act decisively based on available data and intervene when necessary to reduce exchange rate volatility,&rdquo; Castro said.The Marcos administration will also continue several programs to cushion ordinary Filipinos from the impact of the peso&rsquo;s depreciation, including the P20 per kilo rice, zero balance billing in certain government hospitals, and free tolls for public utility vehicles and trucks delivering agricultural goods, she said.While a weakening peso translates to more expensive imported commodities like oil, a stronger dollar benefits recipients of remittances from overseas Filipino workers.

The Philippines remains “focused on fiscal discipline and more efficient use of public funds” as the peso continues to tumble against the US dollar.

The Philippines remains “focused on fiscal discipline and more efficient use of public funds” as the peso continues to tumble against the US dollar.

Palace: PH focuses on fiscal discipline, high-impact projects as peso tumbles vs US dollar

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Palace: PH focuses on fiscal discipline, high-impact projects as peso tumbles vs US dollar

Katrina Domingo,

ABS-CBN News

Published September 03, 2026 03:50 PM PHT

Read More:

peso

peso-dollar exchange rate

foreign exchange

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