The peso lost further ground against the US dollar on Tuesday, hitting
a four-month low as investors took positions in the greenback in
anticipation of the outcome of the latest United States Federal Reserve
policy meeting, which just started.
The central bank is optimistic that growth in the country’s money supply
will continue to moderate, averting a worsening of inflation in the
months ahead as the recent series of monetary policy actions take effect
in mopping off excess liquidity from the financial system.
While the Ninoy Aquino International Airport (NAIA) did not exactly make
it out of the world’s worst airports list, its rankings lowered from
being first for the past three years to fourth place this year.
Personal remittances by overseas Filipino workers (OFWs) fell slightly
to $2.274 billion in August from the previous month’s level despite a
7.16 percent increase from a year earlier, central bank data shows.