Dealing with a weak peso
ON May 2, 2019, the peso was at 51.7808 to the US dollar, and was as strong as P47.66 to $1 on June 1, 2021; hitting a low of 59.0197 on October 10, 2022. Currently the peso is at a little over 57 to the greenback, meaning our currency devalued by about 10 percent over the last five years. More significantly, the peso devalued 23.79 percent from 47.66 to 59.02 in only a span of 16 months!