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Saturday, December 10, 2005
Peso at its peak after 2 years
The peso surged to its highest level with P53.67 against the US dollar driven by remittances from overseas Filipino workers, portfolio investments and exports.
Malacañang said it hails the country's OFWs as champions of the economy but added it knows the pain of their long separation from their families.
Palace added it is unfortunate that in the face of the heroic sacrifices of the OFWs, there are still those who persist to put the nation down.
"The Philippines is divided into those who drag us down and those who choose to be united and productive for the sake of country and family," Presidential spokesperson Ignacio Bunye said, according to a Philippine Information Agency report.
He said the government has a clear blueprint for making the Philippines a first world country in 20 years, backed up by the Filipino as the most powerful economic resource here and around the world.
(December 10, 2005 issue)
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