{"id":150607,"date":"2018-02-01T20:32:28","date_gmt":"2018-02-02T01:32:28","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=150607"},"modified":"2018-02-01T20:32:28","modified_gmt":"2018-02-02T01:32:28","slug":"peso-is-just-fine-espenilla","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2018\/02\/01\/peso-is-just-fine-espenilla\/","title":{"rendered":"&#8216;Peso is just fine&#8217;: Espenilla"},"content":{"rendered":"<figure id=\"attachment_127595\" aria-describedby=\"caption-attachment-127595\" style=\"width: 514px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2017\/10\/BSP_Governor_Nestor_Espenilla_Jr-1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-127595\" src=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2017\/10\/BSP_Governor_Nestor_Espenilla_Jr-1.jpg\" alt=\"FILE: Bangko Sentral ng Pilipinas (BSP) Governor Nestor Espenilla Jr. (Photo By Bangko Sentral ng Pilipinas, CC BY-SA 4.0)\" width=\"514\" height=\"515\" srcset=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2017\/10\/BSP_Governor_Nestor_Espenilla_Jr-1.jpg 514w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2017\/10\/BSP_Governor_Nestor_Espenilla_Jr-1-150x150.jpg 150w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2017\/10\/BSP_Governor_Nestor_Espenilla_Jr-1-300x300.jpg 300w\" sizes=\"auto, (max-width: 514px) 100vw, 514px\" \/><\/a><figcaption id=\"caption-attachment-127595\" class=\"wp-caption-text\">FILE: Bangko Sentral ng Pilipinas (BSP) Governor Nestor Espenilla Jr. (Photo By Bangko Sentral ng Pilipinas, CC BY-SA 4.0)<\/figcaption><\/figure>\n<p>MANILA\u2014 Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla Jr. said the peso \u201cis just fine\u201d amid its recent weakness and stressed that the currency\u2019s performance only reflected current market environment.<\/p>\n<p>After Thursday\u2019s morning session, the peso registered an average trading level against the US dollar of 51.44, slightly weaker than 51.38 average same period in the previous day.<\/p>\n<p>On Wednesday, the peso closed at 51.34 to a dollar.<\/p>\n<p>\u201cThere will be volatility, runs and corrections, and the public should plan accordingly and factor in exchange risk in their decisions,\u201d the central bank chief told reporters in a message Thursday.<\/p>\n<p>Espenilla, however, pointed out that the local currency \u201cis not expected to meltdown because the underlying economic fundamentals of the economy are healthy.\u201d<\/p>\n<p>He said deficit in the country\u2019s balance of payment (BOP), which amounted to USD863 million in end-2017, \u201cis very manageable\u201d.<\/p>\n<p>He said the deficit \u201c was but a reflection of an economy that\u2019s growing rapidly in a way that was sustainable.\u201d<\/p>\n<p>\u201cWe are very far from any foreign exchange crisis given our large GIR (Gross International Reserve) buffer and secondary buffers as well as investment grade-rating that guarantees ready market access for any official and commercial financing requirement,\u201d he added.<\/p>\n<p>BSP data show that as of end-2017, the country\u2019s total dollar reserves reached USD81.47 billion, higher than year-ago\u2019s USD80.69 billion.<\/p>\n<p>This level is enough to cover 8.3 months\u2019 worth of imports of goods and payments of services and primary income.<\/p>\n<p>Philippine monetary officials said the standard GIR level to be considered healthy was enough to cover three months requirements of an economy. (PNA)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MANILA\u2014 Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla Jr. said the peso \u201cis just fine\u201d amid its recent &hellip;<\/p>\n","protected":false},"author":33,"featured_media":127595,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[28886,5972],"class_list":["post-150607","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-bangko-sentral-ng-pilipinas-bsp-governor-nestor-a-espenilla-jr","tag-peso","mauthors-joann-villanueva","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/150607","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=150607"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/150607\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/127595"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=150607"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=150607"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=150607"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}