Marcos Pledges to Defend Peso After Record Low

President Ferdinand Marcos announced that the Philippine government will take all necessary measures to defend the national currency after the peso hit a new record low this week.

Speaking to reporters in Manila on Wednesday, Marcos stated that authorities are committed to preventing further devaluation. The pledge followed a meeting between the president, central bank officials, and other key government representatives to address the currency's decline.

Marcos told reporters that "people can take solace in the fact that our policy toward the peso is to continue to defend the peso as hard as we possibly can," and added that the government will do all it can to ensure the value does not continue to drop.