BSP won’t defend peso despite ‘tremendous pressure’, says governor

January 8, 2026 – 4:01 PM

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— The Philippine central bank will not defend the peso despite “tremendous pressure” to do so, its governor said on Thursday.

“We ignore it,” Bangko Sentral ng Pilipinas Governor Eli Remolona told reporters. “The economics does not warrant defending the peso.”

—Reporting by Karen Lema; Writing by Mikhail Flores; Editing by Martin Petty