Peso vs dollar 'under control,' says Bangko Sentral

Vivienne Gulla, ABS-CBN News

Posted at Aug 25 2017 10:41 AM | Updated as of Aug 25 2017 02:23 PM

MANILA - The peso-dollar exchange rate is "under control," Bangko Sentral ng Pilipinas Governor Nestor Espenilla said Friday, as the local unit regained some ground from 11-year lows last week. 

The peso opened at P51. 05 to the dollar from P51 on Thursday. Analysts have predicted a fall to the P52 level this year as import requirements from the government's infrastructure program drives dollar demand. 

"Definitely we are not in a foreign exchange crisis," Espenilla told a forum hosted by the Economic Journalists Association of the Philippines.

"We allowed the peso to adjust moderately and gradually. But I can assure that the BSP is in full control of the exchange rate. And this is consistent in an investment and export led strategy," he said.