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Philippine Peso Falls to Fresh 11-Year Low

  • Peso, Asia’s worst performer, fell to lowest level in 11 years
  • Central bank held key rate while raising inflation forecasts
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Philippine Central Bank Governor Nestor Espenilla discusses keeping rates on hold, the peso, their policy outlook, credit growth, reliance on remittances and inflation. He speaks on 'Bloomberg Markets: Asia.' (Source: Bloomberg)

Philippine central bank Governor Nestor Espenilla said the peso will trade within "manageable levels" with a flexible exchange rate policy. The currency extended declines.

“We are comfortable that economic fundamentals are alright and that the exchange rate will remain within manageable levels,” Espenilla said in an interview with Bloomberg Television’s Haidi Lun on Friday. “We let the exchange rate be determined by market conditions.”