Former senator Ping Lacson responded to the remarks made by Ilocos Norte Representative and presidential son Sandro Marcos regarding the Philippine peso.
Marcos claimed that the Philippine peso is currently weak not because it is a weak currency but because other currencies like the US dollar are so strong now.
“The peso is not weak, because the peso is weak. The peso is weak because the dollar is strong. The dollar is strong for two reasons: kapag may krisis po sa ating mundo and the impression that investors, consumers, and shareholders get is that the dollar is the safest currency to get against all other currencies,” said the young Marcos.
“So ang nangyayari ay lahat ng mga tao kapag may krisis ay bumibili ng dollar. Kapag binibili ‘yong dollar, ang demanda ng dollar tumataas, which means against other currencies it becomes stronger,” he added.
In a tweet, Lacson simplified the explanation, stating that: “The peso is weak because the US$, SG$, HK$, Japan Yen, NT$, GBP, AED, CHf, and other currencies are strong’.
