JUST IN: The Philippine Peso has just hit a historic all-time low against dollar at 𝐏𝟔𝟏.𝟎𝟒
The Philippine peso has lost purchasing power internationally.
The Philippines imports a lot:
-Fuel (gasoline, diesel)
-Rice and food products
-Electronics (phones, laptops)
-Raw materials for businesses
So when PHP weakens:
-Prices of goods go up
-Inflation increases
-Daily living becomes more expensive
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#Philippines #PESO #PHP #ArthurHayes’LatestSpeech #BinanceLaunchesGoldvs.BTCTradingCompetition