The peso near a 12-year low is providing some relief to Philippine exporters, who risk losing some tax perks and are facing tighter labor policies, the top executive for the electronics and semiconductor industry said.
“In general, it’s a blessing that the peso has weakened,” Dan Lachica, head of the Semiconductor and Electronics Industries in the Philippines, Inc., said in an interview. Even if 70 percent of the industry’s inputs are imported and affected by the 6.7 percent drop in the peso, with revenues in U.S. currency “you’re able to stretch the value of your earnings.”
