Weak Peso Affects Christmas Decor Industry Anc Youtube Rundown: the christmas decor industry bearing the brunt of high inflation and a weak peso.for more anc interviews, click the link below: youtub. December 19, 2022 | 9:00 am. the philippine peso has seen its value depreciate against the us dollar (usd) during the past months. after reaching a record low of p56.77 to $1 on sept. 2, the local currency hit several record lows subsequently plunging to a historic low of p59 per us dollar during the week of oct. 10 through 17.
Ph Businesses Reel From Weak Peso Strong Dollar Anc Youtube On monday, the philippine peso weakened against the us dollar to a new all time low amid the strengthening of the greenback due to the hawkish stance of the federal reserve to tame inflation. the local currency closed at p56.999:$1, shedding 22.9 centavos from friday’s close of p56.77:$1, its previous record low. A weak peso means that these contracts, which might be written in yuan , are more expensive for us to service. the us dollar, because it buys so much stuff that countries need, like fighter jets, grain elevator technology, soybean mill, etc. will always be accepted in debt servicing, because other countries have dollar denominated debt. The peso had already depreciated by 15.7 percent so far this year, losing p7.991 to the us dollar since closing at p50.999:$1 at the end of 2021. most of the peso’s losses so far this year. Negative effects of a strong peso. though currency appreciation has clear benefits, too strong a peso negatively affects key sectors of our economy, as we discuss below. 1. more expensive exports.
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